Legend Biotech Co. (NASDAQ:LEGN) Stock Holdings Increased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in shares of Legend Biotech Co. (NASDAQ:LEGNFree Report) by 2,134.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,832 shares of the company’s stock after acquiring an additional 5,571 shares during the period. Daiwa Securities Group Inc.’s holdings in Legend Biotech were worth $351,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new stake in Legend Biotech during the 3rd quarter valued at $32,000. PNC Financial Services Group Inc. raised its stake in Legend Biotech by 53.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company’s stock valued at $91,000 after acquiring an additional 472 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Legend Biotech by 141.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,048 shares of the company’s stock valued at $138,000 after acquiring an additional 1,199 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Legend Biotech during the 3rd quarter valued at $323,000. Finally, Handelsinvest Investeringsforvaltning bought a new stake in Legend Biotech during the 4th quarter valued at $404,000. Institutional investors own 70.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $87.00 target price on shares of Legend Biotech in a research note on Tuesday. Raymond James assumed coverage on Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price target on the stock. Cantor Fitzgerald assumed coverage on Legend Biotech in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price target on the stock. Barclays lifted their price target on Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Scotiabank upgraded Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Check Out Our Latest Stock Analysis on LEGN

Legend Biotech Stock Performance

Shares of NASDAQ LEGN opened at $45.30 on Friday. 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 stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of -30.61 and a beta of 0.01. The stock’s fifty day simple moving average is $58.06 and its 200 day simple moving average is $60.14. Legend Biotech Co. has a 52-week low of $44.06 and a 52-week high of $77.32.

Legend Biotech (NASDAQ:LEGNGet Free Report) last issued its earnings results on Monday, March 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping 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 business had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $95.63 million. Legend Biotech’s revenue was up 177.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Legend Biotech Co. will post -1.43 earnings per share for the current fiscal year.

Legend Biotech Profile

(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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Institutional Ownership by Quarter for Legend Biotech (NASDAQ:LEGN)

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