LMR Partners LLP Has $6.06 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

LMR Partners LLP lessened its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 4.0% during the third quarter, Holdings Channel.com reports. The firm owned 124,400 shares of the company’s stock after selling 5,200 shares during the quarter. LMR Partners LLP’s holdings in Legend Biotech were worth $6,062,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after buying an additional 806 shares during the period. American International Group Inc. lifted its holdings in Legend Biotech by 50.0% in the first quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after buying an additional 300 shares during the period. AM Squared Ltd acquired a new position in Legend Biotech in the second quarter valued at $71,000. California State Teachers Retirement System increased its stake in Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock valued at $188,000 after purchasing an additional 2,216 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Legend Biotech in the first quarter valued at $237,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LEGN shares. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a report on Wednesday, November 13th. Scotiabank upped their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a report on Monday, August 12th. Finally, Redburn Atlantic started coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Legend Biotech has an average rating of “Buy” and a consensus price target of $81.46.

Legend Biotech Trading Down 2.0 %

Shares of NASDAQ:LEGN opened at $37.42 on Tuesday. The company has a quick ratio of 4.78, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a 52-week low of $37.40 and a 52-week high of $70.13. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -39.39 and a beta of 0.11. The business has a 50-day moving average price of $45.75 and a 200-day moving average price of $48.24.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.22. The business had revenue of $160.20 million during the quarter, compared to analyst estimates of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company’s revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. Equities analysts predict that Legend Biotech Co. will post -1.23 EPS for the current year.

About Legend Biotech

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).