BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 2,947 Shares of Legend Biotech Co. (NASDAQ:LEGN)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 81.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,564 shares of the company’s stock after purchasing an additional 2,947 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Legend Biotech were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Legend Biotech by 71.6% during the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock valued at $138,776,000 after acquiring an additional 962,381 shares during the last quarter. RA Capital Management L.P. increased its position in shares of Legend Biotech by 9.5% during the first quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock worth $384,839,000 after purchasing an additional 596,390 shares in the last quarter. Altitude Crest Partners Inc. purchased a new stake in shares of Legend Biotech during the 4th quarter valued at $32,601,000. First Turn Management LLC acquired a new stake in shares of Legend Biotech in the 4th quarter worth $28,646,000. Finally, Westfield Capital Management Co. LP increased its position in Legend Biotech by 26.1% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,239,774 shares of the company’s stock valued at $125,629,000 after buying an additional 463,527 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

Shares of NASDAQ:LEGN opened at $57.33 on Wednesday. The business’s 50 day moving average price is $54.09 and its 200-day moving average price is $52.35. Legend Biotech Co. has a 1 year low of $38.60 and a 1 year high of $71.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.84 and a quick ratio of 4.78. The firm has a market capitalization of $10.45 billion, a PE ratio of -44.10 and a beta of 0.11.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.49. The business had revenue of $186.50 million during the quarter, compared to analyst estimates of $125.25 million. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. The company’s revenue for the quarter was up 154.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. As a group, equities research analysts expect that Legend Biotech Co. will post -1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LEGN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a report on Monday, August 12th. TD Cowen dropped their price target on Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. HC Wainwright restated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Wednesday, August 28th. Truist Financial started coverage on Legend Biotech in a research report on Monday, June 17th. They issued a “buy” rating and a $88.00 target price on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $90.00 price target on shares of Legend Biotech in a research report on Wednesday, July 3rd. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $81.78.

Legend Biotech 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).