According to Zacks, “Legend Biotech Corporation is a clinical-stage biopharmaceutical company. It engaged in the discovery and development of novel cell therapies for oncology and other indications. The company’s lead product consist LCAR-B38M/JNJ-4528, which are in clinical stage. Legend Biotech Corporation is based in Cayman Islands. “
Other analysts also recently issued research reports about the stock. Piper Sandler initiated coverage on shares of Legend Biotech in a research report on Tuesday, December 21st. They set an “overweight” rating and a $66.00 target price on the stock. Morgan Stanley lifted their price objective on shares of Legend Biotech from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, March 7th. BTIG Research lifted their price objective on shares of Legend Biotech from $65.00 to $75.00 in a research note on Tuesday, March 1st. Finally, Barclays initiated coverage on shares of Legend Biotech in a research note on Tuesday, March 15th. They set an “overweight” rating and a $53.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Legend Biotech currently has an average rating of “Buy” and a consensus target price of $59.00.
Legend Biotech (NASDAQ:LEGN – Get Rating) last released its earnings results on Friday, March 18th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. Legend Biotech had a negative net margin of 429.40% and a negative return on equity of 131.45%. On average, equities analysts predict that Legend Biotech will post -1.63 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. CNA Financial Corp lifted its stake in shares of Legend Biotech by 4.7% in the 3rd quarter. CNA Financial Corp now owns 11,165 shares of the company’s stock valued at $565,000 after purchasing an additional 500 shares during the period. Capital International Sarl lifted its stake in shares of Legend Biotech by 0.5% in the 3rd quarter. Capital International Sarl now owns 221,562 shares of the company’s stock valued at $11,202,000 after purchasing an additional 1,092 shares during the period. Millennium Management LLC lifted its stake in shares of Legend Biotech by 0.9% in the 4th quarter. Millennium Management LLC now owns 152,034 shares of the company’s stock valued at $7,086,000 after purchasing an additional 1,327 shares during the period. Wells Fargo & Company MN acquired a new position in shares of Legend Biotech in the 4th quarter valued at $62,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Legend Biotech in the 3rd quarter valued at $75,000. Hedge funds and other institutional investors own 25.68% of the company’s stock.
About Legend Biotech (Get Rating)
Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery and development 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), as well as a comparison of the treatment with standard triplet therapy in revlimid-refractory multiple myeloma.
- Get a free copy of the StockNews.com research report on Legend Biotech (LEGN)
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