Legend Biotech Co. (NASDAQ:LEGN) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 258,988 shares of the company’s stock after purchasing an additional 592 shares during the period. Franklin Resources Inc. owned approximately 0.14% of Legend Biotech worth $8,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. raised its stake in shares of Legend Biotech by 12.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,476,151 shares of the company’s stock valued at $48,034,000 after acquiring an additional 164,418 shares during the period. Wellington Management Group LLP grew its stake in shares of Legend Biotech by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company’s stock valued at $69,010,000 after buying an additional 84,405 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Legend Biotech by 74.7% in the 4th quarter. Schroder Investment Management Group now owns 194,508 shares of the company’s stock valued at $6,374,000 after buying an additional 83,191 shares during the period. Pictet Asset Management Holding SA boosted its holdings in Legend Biotech by 2.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 89,669 shares of the company’s stock valued at $2,918,000 after acquiring an additional 2,223 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Legend Biotech by 176.0% during the fourth quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company’s stock worth $32,475,000 after purchasing an additional 636,390 shares during the period. 70.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LEGN shares. Piper Sandler reiterated an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a report on Monday, December 30th. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Legend Biotech in a research report on Tuesday. Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, Morgan Stanley dropped their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Legend Biotech Price Performance

LEGN stock opened at $30.77 on Wednesday. The business has a 50 day simple moving average of $35.79 and a 200-day simple moving average of $38.56. The company has a market capitalization of $5.65 billion, a P/E ratio of -32.39 and a beta of 0.21. Legend Biotech Co. has a twelve month low of $29.31 and a twelve month high of $60.87. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. During the same quarter last year, the company posted ($0.40) earnings per share. The business’s revenue was up 134.6% on a year-over-year basis. As a group, equities analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current year.

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).