43,300 Shares in Legend Biotech Corporation Sponsored ADR $LEGN Purchased by OPTIMAS CAPITAL Ltd

OPTIMAS CAPITAL Ltd purchased a new position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 43,300 shares of the company’s stock, valued at approximately $1,537,000. Legend Biotech makes up about 1.6% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 18th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of LEGN. Quarry LP acquired a new stake in Legend Biotech during the first quarter worth approximately $48,000. Brooklyn Investment Group boosted its holdings in shares of Legend Biotech by 1,114.8% during the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock worth $59,000 after purchasing an additional 1,583 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Legend Biotech by 913.0% in the second quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock valued at $74,000 after purchasing an additional 1,890 shares during the period. Allostery Investments LP purchased a new stake in Legend Biotech in the 1st quarter valued at about $161,000. Finally, PNC Financial Services Group Inc. raised its stake in Legend Biotech by 193.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the company’s stock worth $167,000 after purchasing an additional 3,238 shares during the period. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Analyst Upgrades and Downgrades

LEGN has been the topic of a number of recent research reports. Barclays reduced their price objective on Legend Biotech from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Royal Bank Of Canada decreased their price objective on shares of Legend Biotech from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. JPMorgan Chase & Co. reduced their price target on Legend Biotech from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Cantor Fitzgerald raised their price target on shares of Legend Biotech from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Legend Biotech in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Legend Biotech has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

Legend Biotech Price Performance

LEGN opened at $27.50 on Thursday. The company has a quick ratio of 2.80, a current ratio of 2.86 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $31.72 and its 200 day moving average price is $34.07. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $25.71 and a fifty-two week high of $45.30. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -42.31 and a beta of 0.17.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Legend Biotech had a negative return on equity of 24.47% and a negative net margin of 26.37%.The business had revenue of $272.33 million for the quarter, compared to analysts’ expectations of $277.91 million. During the same period in the prior year, the firm earned ($0.34) EPS. The business’s quarterly revenue was up 70.0% on a year-over-year basis. As a group, sell-side analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share 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).