Analysts Set Legend Biotech Co. (NASDAQ:LEGN) PT at $82.08

Legend Biotech Co. (NASDAQ:LEGN) has received an average recommendation of “Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Fourteen research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $82.08.

Several equities analysts recently commented on the company. Scotiabank upped their price objective on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Monday, August 12th. Redburn Atlantic began coverage on Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target for the company. TD Cowen lowered their price objective on Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research report on Wednesday, October 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Legend Biotech by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 164,573 shares of the company’s stock valued at $9,231,000 after purchasing an additional 1,443 shares during the last quarter. BNP Paribas purchased a new stake in shares of Legend Biotech during the 1st quarter valued at $199,000. Nordea Investment Management AB bought a new stake in shares of Legend Biotech during the 1st quarter worth $843,000. Daiwa Securities Group Inc. grew its position in Legend Biotech by 9.0% in the first quarter. Daiwa Securities Group Inc. now owns 6,359 shares of the company’s stock worth $356,000 after acquiring an additional 527 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in Legend Biotech by 8.7% in the first quarter. TimesSquare Capital Management LLC now owns 1,158,500 shares of the company’s stock valued at $64,980,000 after acquiring an additional 92,611 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Down 1.5 %

Shares of Legend Biotech stock opened at $44.36 on Friday. The firm has a market cap of $8.09 billion, a PE ratio of -56.87 and a beta of 0.10. Legend Biotech has a 1 year low of $38.60 and a 1 year high of $70.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.84 and a quick ratio of 4.78. The stock has a fifty day moving average price of $49.03 and a 200-day moving average price of $48.64.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.49. The business had revenue of $186.50 million during the quarter, compared to the consensus estimate of $125.25 million. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. The firm’s quarterly revenue was up 154.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.27) earnings per share. Equities research analysts anticipate that Legend Biotech will post -1.48 EPS for the current year.

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).