Mackenzie Financial Corp Has $9.19 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Mackenzie Financial Corp increased its stake in Legend Biotech Co. (NASDAQ:LEGN) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,767 shares of the company’s stock after buying an additional 23,802 shares during the quarter. Mackenzie Financial Corp’s holdings in Legend Biotech were worth $9,192,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LEGN. BluePath Capital Management LLC acquired a new stake in shares of Legend Biotech in the 3rd quarter valued at approximately $32,000. American International Group Inc. bought a new stake in Legend Biotech in the 2nd quarter valued at $33,000. Lazard Asset Management LLC bought a new stake in Legend Biotech in the 4th quarter valued at $33,000. Coppell Advisory Solutions LLC bought a new stake in Legend Biotech in the 2nd quarter valued at $41,000. Finally, Atlas Capital Advisors LLC bought a new stake in Legend Biotech in the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group increased their price target on Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Cantor Fitzgerald started coverage on Legend Biotech in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price objective on the stock. Raymond James started coverage on Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Legend Biotech in a research report on Tuesday. Finally, Barclays increased their price objective on Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Legend Biotech presently has an average rating of “Moderate Buy” and a consensus price target of $83.26.

Legend Biotech Price Performance

LEGN opened at $46.19 on Friday. Legend Biotech Co. has a 52-week low of $45.68 and a 52-week high of $77.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.92 and a quick ratio of 6.83. The business’s fifty day moving average is $59.31 and its 200-day moving average is $60.83.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data 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 analyst estimates of $95.63 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The firm’s revenue for the quarter was up 177.2% compared to the same quarter last year. Sell-side analysts forecast that Legend Biotech Co. will post -1.43 earnings per share for the current fiscal year.

About Legend Biotech

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).