Swiss National Bank Purchases 1,800 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Swiss National Bank raised its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 1.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 166,994 shares of the company’s stock after buying an additional 1,800 shares during the period. Swiss National Bank’s holdings in Legend Biotech were worth $5,434,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LEGN. OFI Invest Asset Management acquired a new position in Legend Biotech during the fourth quarter worth $77,000. Quantbot Technologies LP acquired a new position in shares of Legend Biotech during the 3rd quarter worth about $148,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Legend Biotech in the third quarter valued at about $229,000. Blue Trust Inc. raised its holdings in Legend Biotech by 1,513.3% during the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after acquiring an additional 5,478 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Legend Biotech during the third quarter valued at approximately $306,000. 70.89% of the stock is owned by institutional investors.

Legend Biotech Stock Performance

Shares of NASDAQ LEGN opened at $36.33 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of -38.24 and a beta of 0.19. The stock’s fifty day moving average price is $36.18 and its two-hundred day moving average price is $39.93. Legend Biotech Co. has a one year low of $30.17 and a one year high of $60.87.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.46. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $179.00 million. During the same period in the prior year, the company posted ($0.40) earnings per share. Legend Biotech’s revenue was up 134.6% compared to the same quarter last year. On average, equities analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current year.

Analyst Ratings Changes

LEGN has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $83.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. HC Wainwright lifted their price objective on shares of Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

Legend Biotech Company Profile

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).