Legend Biotech Co. (NASDAQ:LEGN) Given Average Rating of “Buy” by Brokerages

Legend Biotech Co. (NASDAQ:LEGN) has earned a consensus rating of “Buy” from the thirteen analysts that are covering the stock, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $80.62.

LEGN has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research report on Tuesday, December 10th. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 target price on shares of Legend Biotech in a report on Monday, December 30th. Redburn Atlantic initiated coverage on Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th.

Institutional Trading of Legend Biotech

Several institutional investors have recently made changes to their positions in LEGN. Quantbot Technologies LP acquired a new position in Legend Biotech in the third quarter worth about $148,000. SG Americas Securities LLC acquired a new position in shares of Legend Biotech in the 3rd quarter worth approximately $212,000. Public Employees Retirement System of Ohio bought a new position in shares of Legend Biotech during the 3rd quarter worth approximately $229,000. Aigen Investment Management LP bought a new position in shares of Legend Biotech during the 3rd quarter worth approximately $300,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Legend Biotech in the 3rd quarter valued at $306,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Down 2.4 %

Shares of LEGN stock opened at $32.77 on Thursday. The stock’s 50 day simple moving average is $38.21 and its 200 day simple moving average is $46.60. Legend Biotech has a twelve month low of $32.08 and a twelve month high of $70.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of -34.49 and a beta of 0.16.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.22. The company had revenue of $160.20 million for the quarter, compared to analyst estimates 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 last year, the firm posted ($0.17) earnings per share. As a group, research analysts predict that Legend Biotech 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).