Advisors Asset Management Inc. Purchases 837 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Advisors Asset Management Inc. increased its position in Legend Biotech Co. (NASDAQ:LEGN) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,812 shares of the company’s stock after buying an additional 837 shares during the quarter. Advisors Asset Management Inc.’s holdings in Legend Biotech were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LEGN. Point72 Asset Management L.P. bought a new position in shares of Legend Biotech during the second quarter valued at about $13,487,000. Magnetar Financial LLC purchased a new position in Legend Biotech in the 2nd quarter worth approximately $11,146,000. Ally Bridge Group NY LLC bought a new stake in Legend Biotech in the second quarter valued at approximately $8,637,000. Tri Locum Partners LP boosted its stake in shares of Legend Biotech by 25.6% during the second quarter. Tri Locum Partners LP now owns 356,532 shares of the company’s stock valued at $15,791,000 after purchasing an additional 72,759 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Legend Biotech by 3.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,960,709 shares of the company’s stock worth $86,840,000 after purchasing an additional 69,913 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LEGN. Redburn Atlantic started coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a research note on Wednesday, November 13th. Finally, Scotiabank upped their price objective 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. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Legend Biotech has an average rating of “Buy” and an average target price of $81.46.

Legend Biotech Trading Up 1.3 %

Legend Biotech stock opened at $43.13 on Friday. Legend Biotech Co. has a one year low of $36.92 and a one year high of $70.13. The business’s fifty day moving average is $44.29 and its 200 day moving average is $47.98. The stock has a market capitalization of $7.91 billion, a PE ratio of -45.40 and a beta of 0.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90.

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

Legend Biotech 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).