HC Wainwright Reiterates “Buy” Rating for Legend Biotech (NASDAQ:LEGN)

Legend Biotech (NASDAQ:LEGNGet Free Report)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $87.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 54.17% from the stock’s previous close.

A number of other analysts also recently commented on LEGN. Scotiabank began coverage on Legend Biotech in a research note on Tuesday, December 19th. They issued a “sector perform” rating and a $65.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Legend Biotech in a report on Thursday, March 7th. UBS Group upped their price target on Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Barclays increased their target price on Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, Raymond James initiated coverage on Legend Biotech in a report on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.76.

Read Our Latest Stock Analysis on LEGN

Legend Biotech Stock Down 1.4 %

Legend Biotech stock opened at $56.43 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.83 and a current ratio of 6.92. The business’s 50-day simple moving average is $60.60 and its two-hundred day simple moving average is $61.92. The company has a market cap of $9.31 billion, a PE ratio of -38.13 and a beta of 0.01. Legend Biotech has a fifty-two week low of $44.52 and a fifty-two week high of $77.32.

Legend Biotech (NASDAQ:LEGNGet Free Report) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.40) earnings per share 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 return on equity of 37.19% and a negative net margin of 181.75%. The business’s revenue was up 177.2% on a year-over-year basis. Equities analysts anticipate that Legend Biotech will post -1.39 EPS for the current year.

Institutional Trading of Legend Biotech

Several hedge funds have recently modified their holdings of the stock. BluePath Capital Management LLC acquired a new stake in Legend Biotech in the third quarter valued at $32,000. American International Group Inc. acquired a new stake in Legend Biotech in the second quarter valued at $33,000. Lazard Asset Management LLC acquired a new stake in Legend Biotech in the fourth quarter valued at $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Legend Biotech during the second quarter worth about $41,000. Finally, Quarry LP acquired a new stake in shares of Legend Biotech during the fourth quarter worth about $45,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

About Legend Biotech

(Get Free Report)

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).

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Analyst Recommendations for Legend Biotech (NASDAQ:LEGN)

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