Zurcher Kantonalbank Zurich Cantonalbank Buys 5,084 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Legend Biotech Co. (NASDAQ:LEGN) by 39.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,039 shares of the company’s stock after purchasing an additional 5,084 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Legend Biotech were worth $1,085,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LEGN. AE Wealth Management LLC raised its position in shares of Legend Biotech by 4.9% in the third quarter. AE Wealth Management LLC now owns 7,065 shares of the company’s stock valued at $475,000 after purchasing an additional 328 shares during the period. Handelsbanken Fonder AB raised its position in shares of Legend Biotech by 17.2% in the third quarter. Handelsbanken Fonder AB now owns 32,000 shares of the company’s stock valued at $2,149,000 after purchasing an additional 4,700 shares during the period. BluePath Capital Management LLC bought a new position in shares of Legend Biotech in the third quarter valued at about $32,000. Mackenzie Financial Corp raised its position in shares of Legend Biotech by 1,285.7% in the third quarter. Mackenzie Financial Corp now owns 128,965 shares of the company’s stock valued at $8,352,000 after purchasing an additional 119,658 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Legend Biotech in the third quarter valued at about $323,000. 70.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays raised their price target on shares of Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Raymond James assumed coverage on shares of Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Legend Biotech in a research report on Thursday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Legend Biotech in a research report on Tuesday, April 23rd. Finally, Scotiabank raised shares of 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 investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Legend Biotech Price Performance

LEGN stock opened at $45.30 on Friday. The firm has a market cap of $8.24 billion, a P/E ratio of -30.61 and a beta of 0.01. 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 company’s 50-day moving average price is $58.06 and its two-hundred day moving average price is $60.10. Legend Biotech Co. has a 12 month low of $44.06 and a 12 month high of $77.32.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.30. The company had revenue of $76.50 million for the quarter, compared to analyst estimates of $95.63 million. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. Legend Biotech’s revenue for the quarter was up 177.2% compared to the same quarter last year. On average, analysts anticipate that Legend Biotech Co. will post -1.43 earnings per share for the current fiscal year.

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).