Legend Biotech (NASDAQ:LEGN) Reaches New 52-Week Low at $45.52

Shares of Legend Biotech Co. (NASDAQ:LEGN) hit a new 52-week low during trading on Monday . The company traded as low as $45.52 and last traded at $45.75, with a volume of 131838 shares trading hands. The stock had previously closed at $46.19.

Wall Street Analyst Weigh In

LEGN has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Scotiabank upgraded shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 target price for the company in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Legend Biotech in a research note on Tuesday. Finally, Raymond James began coverage on shares of Legend Biotech in a research note on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Legend Biotech currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.26.

Legend Biotech Trading Up 0.8 %

The company has a current ratio of 6.92, a quick ratio of 6.83 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $58.82 and its 200 day simple moving average is $60.51.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.30. The business had revenue of $76.50 million for the quarter, compared to the consensus estimate of $95.63 million. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. Legend Biotech’s revenue for the quarter was up 177.2% on a year-over-year basis. On average, analysts anticipate that Legend Biotech Co. will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Legend Biotech

Several institutional investors have recently added to or reduced their stakes in LEGN. BluePath Capital Management LLC purchased a new stake in shares of Legend Biotech in the third quarter worth about $32,000. Quarry LP purchased a new stake in Legend Biotech in the fourth quarter worth $45,000. PNC Financial Services Group Inc. lifted its stake in Legend Biotech by 53.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company’s stock worth $91,000 after acquiring an additional 472 shares during the period. Barometer Capital Management Inc. purchased a new stake in Legend Biotech in the fourth quarter worth $120,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Legend Biotech by 141.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,048 shares of the company’s stock valued at $138,000 after buying an additional 1,199 shares during the period. 70.89% of the stock is owned by hedge funds and other institutional investors.

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).