Franklin Resources Inc. Purchases 27,148 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

Franklin Resources Inc. boosted its position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 10.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,500 shares of the company’s stock after purchasing an additional 27,148 shares during the quarter. Franklin Resources Inc. owned about 0.16% of Legend Biotech worth $10,168,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. DNB Asset Management AS acquired a new stake in shares of Legend Biotech during the second quarter worth $241,000. IvyRock Asset Management HK Ltd raised its stake in Legend Biotech by 3.1% in the 2nd quarter. IvyRock Asset Management HK Ltd now owns 869,900 shares of the company’s stock worth $30,873,000 after purchasing an additional 25,900 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Legend Biotech by 87.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,122,268 shares of the company’s stock valued at $75,319,000 after purchasing an additional 990,500 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Legend Biotech during the 2nd quarter worth approximately $2,674,000. Finally, Creative Planning increased its holdings in shares of Legend Biotech by 234.3% during the second quarter. Creative Planning now owns 43,308 shares of the company’s stock worth $1,537,000 after purchasing an additional 30,354 shares during the period. Institutional investors own 70.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Legend Biotech in a research note on Monday, November 24th. Barclays decreased their target price on shares of Legend Biotech from $94.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Royal Bank Of Canada dropped their price target on shares of Legend Biotech from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Johnson Rice set a $60.00 target price on Legend Biotech in a research report on Friday, October 17th. Finally, JPMorgan Chase & Co. reduced their price target on Legend Biotech from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

Legend Biotech Price Performance

Shares of LEGN opened at $27.65 on Friday. The firm has a market cap of $5.11 billion, a PE ratio of -42.54 and a beta of 0.17. Legend Biotech Corporation Sponsored ADR has a 52-week low of $25.71 and a 52-week high of $45.30. The business’s 50 day moving average price is $31.44 and its two-hundred day moving average price is $34.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.80 and a current ratio of 2.86.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.47%. The company had revenue of $272.33 million during the quarter, compared to analyst estimates of $277.91 million. During the same quarter in the previous year, the business posted ($0.34) EPS. Legend Biotech’s revenue for the quarter was up 70.0% compared to the same quarter last year. On average, equities analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.

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).