Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Given Consensus Rating of “Moderate Buy” by Analysts

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $67.80.

Several equities analysts have weighed in on the company. Oppenheimer assumed coverage on Legend Biotech in a research note on Wednesday, January 7th. They set an “outperform” rating and a $75.00 target price on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $74.00 price objective on shares of Legend Biotech in a research note on Monday, December 8th. Morgan Stanley lowered their price target on shares of Legend Biotech from $83.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. HC Wainwright reiterated a “buy” rating on shares of Legend Biotech in a report on Wednesday, November 26th. Finally, Johnson Rice set a $60.00 target price on Legend Biotech in a research note on Friday, October 17th.

Legend Biotech Stock Up 0.1%

Shares of NASDAQ:LEGN opened at $22.14 on Monday. The firm has a 50 day simple moving average of $24.96 and a 200 day simple moving average of $31.77. Legend Biotech has a 52 week low of $20.21 and a 52 week high of $45.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.80 and a current ratio of 2.86. The company has a market cap of $4.09 billion, a PE ratio of -34.06 and a beta of 0.12.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $272.33 million for the quarter, compared to the consensus estimate of $277.91 million. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.47%. The company’s revenue was up 70.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) EPS. As a group, research analysts expect that Legend Biotech will post -1.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LEGN. Clearstead Advisors LLC boosted its holdings in Legend Biotech by 76.5% in the third quarter. Clearstead Advisors LLC now owns 847 shares of the company’s stock worth $28,000 after purchasing an additional 367 shares in the last quarter. Parallel Advisors LLC lifted its position 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 worth $34,000 after buying an additional 662 shares during the last quarter. OFI Invest Asset Management increased its holdings in shares of Legend Biotech by 102.6% during the 3rd quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock valued at $40,000 after acquiring an additional 622 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Legend Biotech by 913.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock valued at $74,000 after acquiring an additional 1,890 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Legend Biotech in the 2nd quarter valued at approximately $78,000. Institutional investors own 70.89% of the company’s stock.

About Legend Biotech

Legend Biotech (NASDAQ: LEGN) is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.

The company’s lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.