Legend Biotech (NASDAQ:LEGN) Hits New 12-Month Low – Time to Sell?

Legend Biotech Co. (NASDAQ:LEGN) hit a new 52-week low on Tuesday . The company traded as low as $32.66 and last traded at $32.90, with a volume of 144191 shares traded. The stock had previously closed at $33.01.

Wall Street Analyst Weigh In

LEGN has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $83.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a report on Tuesday, December 10th. Redburn Atlantic assumed coverage on Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $81.54.

Legend Biotech Stock Performance

The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $41.79 and a 200-day moving average of $47.60. The company has a market cap of $6.20 billion, a PE ratio of -35.76 and a beta of 0.08.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping 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 business had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. During the same period in the prior year, the firm posted ($0.17) EPS. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. As a group, analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current year.

Hedge Funds Weigh In On Legend Biotech

Institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in Legend Biotech by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 11,097 shares of the company’s stock worth $541,000 after purchasing an additional 323 shares during the period. Public Sector Pension Investment Board lifted its stake in Legend Biotech by 1.6% in 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 in the last quarter. Bridgewater Associates LP boosted its holdings in Legend Biotech by 0.3% in the 3rd quarter. Bridgewater Associates LP now owns 165,975 shares of the company’s stock valued at $8,088,000 after purchasing an additional 516 shares during the period. Sei Investments Co. grew its position in shares of Legend Biotech by 1.5% during the 2nd 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 in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after purchasing an additional 806 shares during the period. Hedge funds and other institutional investors own 70.89% of the company’s stock.

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).