Avior Wealth Management LLC Boosts Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Avior Wealth Management LLC raised its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,097 shares of the company’s stock after purchasing an additional 323 shares during the quarter. Avior Wealth Management LLC’s holdings in Legend Biotech were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. US Bancorp DE boosted its stake in shares of Legend Biotech by 4.5% in the first quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after buying an additional 293 shares in the last quarter. American International Group Inc. boosted its position in shares of Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after purchasing an additional 300 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Legend Biotech by 1.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company’s stock worth $1,093,000 after purchasing an additional 400 shares during the period. ProShare Advisors LLC increased its holdings in shares of Legend Biotech by 9.7% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the company’s stock valued at $313,000 after purchasing an additional 494 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Legend Biotech by 1.5% in the second quarter. Sei Investments Co. now owns 46,492 shares of the company’s stock valued at $2,059,000 after purchasing an additional 702 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LEGN shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a report on Tuesday, October 29th. Scotiabank lifted their price objective on Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a report on Monday, August 12th. Redburn Atlantic assumed coverage on Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Legend Biotech currently has an average rating of “Buy” and an average price target of $81.46.

Legend Biotech Trading Down 1.0 %

Shares of LEGN stock opened at $39.75 on Friday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of -41.84 and a beta of 0.11. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $45.11 and a 200 day moving average price of $48.07. Legend Biotech Co. has a twelve month low of $36.92 and a twelve month high of $70.13.

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