Zurcher Kantonalbank Zurich Cantonalbank Purchases 5,084 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Legend Biotech Co. (NASDAQ:LEGN) by 39.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,039 shares of the company’s stock after acquiring an additional 5,084 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Legend Biotech were worth $1,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Legend Biotech by 15.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 163,130 shares of the company’s stock worth $9,816,000 after purchasing an additional 22,376 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Legend Biotech by 101.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,708,510 shares of the company’s stock worth $114,761,000 after purchasing an additional 860,410 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Legend Biotech by 71.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,668,150 shares of the company’s stock worth $112,050,000 after purchasing an additional 696,096 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Legend Biotech in the 3rd quarter worth $974,000. Finally, Massachusetts Financial Services Co. MA grew its position in Legend Biotech by 12.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,867,032 shares of the company’s stock worth $125,409,000 after purchasing an additional 212,327 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group raised their price target on shares of Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Cantor Fitzgerald initiated coverage on shares of Legend Biotech in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 target price on the stock. Scotiabank upgraded shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 target price on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 target price on shares of Legend Biotech in a research report on Thursday, March 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $87.00 target price on shares of Legend Biotech in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Legend Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Legend Biotech Price Performance

NASDAQ:LEGN opened at $45.30 on Friday. The firm has a market cap of $8.24 billion, a PE ratio of -30.61 and a beta of 0.01. Legend Biotech Co. has a 12 month low of $44.06 and a 12 month high of $77.32. The company has a quick ratio of 6.83, a current ratio of 6.92 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $58.06 and its two-hundred day moving average price is $60.10.

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

Legend Biotech 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).