Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) have earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $66.5556.

LEGN has been the topic of several research analyst reports. Cantor Fitzgerald began coverage on Legend Biotech in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $40.00 price objective on the stock. Johnson Rice set a $60.00 price target on shares of Legend Biotech in a research report on Friday. UBS Group set a $54.00 price objective on shares of Legend Biotech and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their target price on shares of Legend Biotech from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $77.00 price target (up from $75.00) on shares of Legend Biotech in a research report on Tuesday, August 12th.

Legend Biotech Stock Down 1.2%

LEGN opened at $31.96 on Friday. The business’s fifty day simple moving average is $34.17 and its 200 day simple moving average is $34.41. Legend Biotech has a 52 week low of $27.34 and a 52 week high of $47.79. The firm has a market cap of $5.90 billion, a P/E ratio of -36.32 and a beta of 0.23. The company has a quick ratio of 4.57, a current ratio of 4.71 and a debt-to-equity ratio of 0.30.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The business had revenue of $255.06 million during the quarter, compared to analyst estimates of $237.49 million. Legend Biotech had a negative net margin of 40.83% and a negative return on equity of 32.00%. The company’s revenue was up 36.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. As a group, equities research analysts anticipate that Legend Biotech will post -1.31 EPS for the current fiscal year.

Institutional Trading of Legend Biotech

Several large investors have recently bought and sold shares of LEGN. OFI Invest Asset Management lifted its position in shares of Legend Biotech by 102.6% during the third quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock worth $40,000 after purchasing an additional 622 shares in the last quarter. GAMMA Investing LLC increased its stake in Legend Biotech by 145.4% during the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company’s stock worth $44,000 after buying an additional 765 shares during the period. Quarry LP acquired a new position in Legend Biotech in the 1st quarter worth $48,000. Brooklyn Investment Group boosted its position in Legend Biotech by 1,114.8% in the 1st quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock valued at $59,000 after buying an additional 1,583 shares during the last quarter. Finally, GF Fund Management CO. LTD. grew its stake in shares of Legend Biotech by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company’s stock valued at $71,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds 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).