Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $72.10.

Several research analysts have recently issued reports on LEGN shares. Johnson Rice set a $60.00 target price on shares of Legend Biotech in a report on Friday, October 17th. HC Wainwright restated a “buy” rating on shares of Legend Biotech in a research note on Wednesday. Cantor Fitzgerald raised their price objective on Legend Biotech from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Legend Biotech in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. dropped their price target on Legend Biotech from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $27.65 on Friday. Legend Biotech has a 12 month low of $25.71 and a 12 month high of $45.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.86 and a quick ratio of 2.80. The firm has a market capitalization of $5.11 billion, a PE ratio of -42.54 and a beta of 0.17. The business’s fifty day moving average price is $31.44 and its 200 day moving average price is $34.01.

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

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC boosted its stake in Legend Biotech by 76.5% during the 3rd quarter. Clearstead Advisors LLC now owns 847 shares of the company’s stock worth $28,000 after purchasing an additional 367 shares during the period. Parallel Advisors LLC raised its holdings in shares of Legend Biotech by 171.9% in the third quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock valued at $34,000 after buying an additional 662 shares during the last quarter. OFI Invest Asset Management boosted its stake in shares of Legend Biotech by 102.6% during the third quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock worth $40,000 after buying an additional 622 shares during the period. Quarry LP purchased a new position in shares of Legend Biotech during the first quarter worth about $48,000. Finally, Brooklyn Investment Group grew its holdings in shares of Legend Biotech by 1,114.8% during the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock worth $59,000 after buying an additional 1,583 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

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).