Empire Life Investments Inc. Purchases 38,043 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Empire Life Investments Inc. raised its position in Legend Biotech Co. (NASDAQ:LEGN) by 38.5% during the 4th quarter, HoldingsChannel reports. The fund owned 136,731 shares of the company’s stock after buying an additional 38,043 shares during the quarter. Empire Life Investments Inc.’s holdings in Legend Biotech were worth $4,449,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Legend Biotech in the 3rd quarter valued at approximately $148,000. Blue Trust Inc. lifted its stake in Legend Biotech by 1,513.3% in the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after acquiring an additional 5,478 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Legend Biotech during the 3rd quarter worth approximately $212,000. Public Employees Retirement System of Ohio bought a new stake in shares of Legend Biotech during the 3rd quarter worth approximately $229,000. Finally, Aigen Investment Management LP bought a new stake in shares of Legend Biotech during the 3rd quarter worth approximately $300,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Up 0.1 %

LEGN opened at $36.42 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The stock’s fifty day simple moving average is $34.96 and its 200 day simple moving average is $43.83. Legend Biotech Co. has a 1-year low of $30.17 and a 1-year high of $70.13.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was up 66.9% on a year-over-year basis. Equities research analysts expect that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Piper Sandler reiterated an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday, January 21st. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $79.50.

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).