Legend Biotech Co. (NASDAQ:LEGN) Receives $81.78 Consensus PT from Brokerages

Shares of Legend Biotech Co. (NASDAQ:LEGN) have been given an average rating of “Buy” by the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $81.78.

A number of research analysts recently issued reports on LEGN shares. Scotiabank boosted 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. TD Cowen dropped their price target on Legend Biotech from $71.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, July 15th. BMO Capital Markets restated an “outperform” rating and issued a $90.00 price target on shares of Legend Biotech in a research note on Wednesday, July 3rd. Truist Financial began coverage on Legend Biotech in a research note on Monday, June 17th. They issued a “buy” rating and a $88.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research note on Monday, September 30th.

Institutional Trading of Legend Biotech

Hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in Legend Biotech during the 4th quarter valued at $45,000. Blue Trust Inc. raised its holdings in Legend Biotech by 10,075.0% during the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after buying an additional 806 shares during the period. American International Group Inc. raised its holdings in Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after buying an additional 300 shares during the period. AM Squared Ltd purchased a new stake in Legend Biotech during the 2nd quarter valued at $71,000. Finally, Barometer Capital Management Inc. purchased a new stake in Legend Biotech during the 4th quarter valued at $120,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Trading Up 2.7 %

Shares of NASDAQ:LEGN opened at $49.07 on Tuesday. The stock has a 50 day moving average of $53.12 and a 200 day moving average of $50.01. The company has a market cap of $8.94 billion, a PE ratio of -37.75 and a beta of 0.10. The company has a current ratio of 4.84, a quick ratio of 4.78 and a debt-to-equity ratio of 0.25. Legend Biotech has a 12-month low of $38.60 and a 12-month high of $70.78.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.49. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $125.25 million. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The firm’s revenue was up 154.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.27) EPS. As a group, equities research analysts expect that Legend Biotech will post -1.46 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).