Brokerages Set Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) PT at $72.10

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) has been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $72.10.

A number of research firms have recently weighed in on LEGN. Morgan Stanley upped their price target on shares of Legend Biotech from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Legend Biotech in a report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Legend Biotech from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Johnson Rice set a $60.00 target price on shares of Legend Biotech in a report on Friday, October 17th. Finally, Barclays decreased their price target 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.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $27.81 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.80 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $30.96 and a 200-day simple moving average of $33.95. The company has a market cap of $5.14 billion, a price-to-earnings ratio of -42.78 and a beta of 0.09. Legend Biotech has a 12-month low of $25.71 and a 12-month high of $45.30.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $272.33 million for the quarter, compared to the consensus estimate of $277.91 million. Legend Biotech had a negative return on equity of 24.47% and a negative net margin of 26.37%.The company’s revenue for the quarter was up 70.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) earnings per share. On average, equities analysts forecast that Legend Biotech will post -1.31 EPS for the current year.

Institutional Trading of Legend Biotech

Large investors have recently bought and sold shares of the company. Clearstead Advisors LLC raised its stake in shares of Legend Biotech by 76.5% during the 3rd quarter. Clearstead Advisors LLC now owns 847 shares of the company’s stock worth $28,000 after buying an additional 367 shares during the last quarter. Rhumbline Advisers grew its stake in Legend Biotech by 1.4% in the 1st quarter. Rhumbline Advisers now owns 28,029 shares of the company’s stock valued at $951,000 after acquiring an additional 391 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Legend Biotech by 1.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company’s stock valued at $1,887,000 after acquiring an additional 579 shares in the last quarter. OFI Invest Asset Management increased its holdings in Legend Biotech by 102.6% during the 3rd quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock valued at $40,000 after acquiring an additional 622 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Legend Biotech by 171.9% during the 3rd quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock valued at $34,000 after acquiring an additional 662 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

About Legend Biotech

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).