Mirae Asset Global Investments Co. Ltd. Takes $3.64 Million Position in Legend Biotech Co. (NASDAQ:LEGN)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 60,492 shares of the company’s stock, valued at approximately $3,640,000.

Several other institutional investors have also recently modified their holdings of the company. Public Sector Pension Investment Board increased its position in shares of Legend Biotech by 1.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 20,689 shares of the company’s stock valued at $1,390,000 after purchasing an additional 220 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Legend Biotech by 2.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 11,849 shares of the company’s stock valued at $796,000 after purchasing an additional 296 shares during the last quarter. Mach 1 Financial Group LLC increased its position in shares of Legend Biotech by 4.8% during the 3rd quarter. Mach 1 Financial Group LLC now owns 7,022 shares of the company’s stock valued at $472,000 after purchasing an additional 320 shares during the last quarter. AE Wealth Management LLC boosted its holdings in Legend Biotech by 4.9% during the 3rd quarter. AE Wealth Management LLC now owns 7,065 shares of the company’s stock valued at $475,000 after acquiring an additional 328 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Legend Biotech by 72.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 876 shares of the company’s stock valued at $60,000 after acquiring an additional 369 shares during the period. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Stock Down 3.1 %

LEGN stock opened at $50.12 on Wednesday. Legend Biotech Co. has a twelve month low of $48.98 and a twelve 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 firm has a market cap of $9.12 billion, a PE ratio of -33.86 and a beta of 0.01. The business has a 50 day moving average of $60.03 and a 200 day moving average of $61.15.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The company had revenue of $76.50 million during the quarter, compared to analyst estimates of $95.63 million. The business’s revenue for the quarter was up 177.2% on a year-over-year basis. On average, research analysts forecast that Legend Biotech Co. will post -1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Legend Biotech in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Legend Biotech in a report on Thursday, March 7th. Scotiabank assumed coverage on Legend Biotech in a report on Tuesday, December 19th. They set a “sector perform” rating and a $65.00 target price for the company. Raymond James started coverage on Legend Biotech in a report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 target price for the company. Finally, Barclays increased their price objective on Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Legend Biotech has an average rating of “Moderate Buy” and a consensus target price of $82.70.

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).