Legend Biotech (NASDAQ:LEGN) PT Raised to $83.00

Legend Biotech (NASDAQ:LEGN – Get Rating) had its target price lifted by Royal Bank of Canada from $74.00 to $83.00 in a research report issued on Friday, The Fly reports. Royal Bank of Canada’s target price points to a potential upside of 19.03% from the company’s current price.

Several other brokerages also recently weighed in on LEGN. BTIG Research increased their price target on Legend Biotech from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. Barclays increased their price target on Legend Biotech from $65.00 to $90.00 in a report on Friday. HC Wainwright increased their price target on Legend Biotech from $66.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. Morgan Stanley increased their price objective on Legend Biotech from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 24th. Finally, BMO Capital Markets increased their price objective on Legend Biotech from $79.00 to $90.00 in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.89.

Legend Biotech Price Performance

Shares of NASDAQ LEGN opened at $69.73 on Friday. The company has a current ratio of 3.69, a quick ratio of 3.66 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average price is $57.55 and its 200-day moving average price is $52.86. Legend Biotech has a fifty-two week low of $37.30 and a fifty-two week high of $73.30.

Legend Biotech (NASDAQ:LEGN – Get Rating) last issued its quarterly earnings results on Friday, February 17th. The company reported ($0.41) earnings per share for the quarter. The firm had revenue of $11.97 million during the quarter. As a group, equities research analysts forecast that Legend Biotech will post -2.16 earnings per share for the current year.

Institutional Trading of Legend Biotech

A number of institutional investors have recently made changes to their positions in the business. Samlyn Capital LLC boosted its position in shares of Legend Biotech by 113.7% in the 1st quarter. Samlyn Capital LLC now owns 598,428 shares of the company’s stock worth $28,856,000 after purchasing an additional 318,338 shares in the last quarter. State Street Corp raised its stake in Legend Biotech by 17.4% in the 1st quarter. State Street Corp now owns 939,450 shares of the company’s stock worth $45,300,000 after acquiring an additional 139,077 shares during the last quarter. Squarepoint Ops LLC raised its stake in Legend Biotech by 10.9% in the 1st quarter. Squarepoint Ops LLC now owns 21,285 shares of the company’s stock worth $1,026,000 after acquiring an additional 2,097 shares during the last quarter. Geode Capital Management LLC raised its stake in Legend Biotech by 18.7% in the 1st quarter. Geode Capital Management LLC now owns 321,968 shares of the company’s stock worth $15,445,000 after acquiring an additional 50,641 shares during the last quarter. Finally, Ardsley Advisory Partners LP purchased a new position in Legend Biotech in the 1st quarter worth $8,680,000. Institutional investors and hedge funds own 38.88% of the company’s stock.

About Legend Biotech

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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.