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

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $55.0769.

A number of equities research analysts have issued reports on LEGN shares. HC Wainwright decreased their price target on shares of Legend Biotech from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Jefferies Financial Group set a $21.00 price objective on Legend Biotech in a research report on Thursday, January 22nd. UBS Group decreased their target price on Legend Biotech from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, December 8th. TD Cowen reaffirmed a “hold” rating and issued a $21.00 target price (down previously from $62.00) on shares of Legend Biotech in a report on Thursday, January 22nd. Finally, Oppenheimer started coverage on Legend Biotech in a report on Wednesday, January 7th. They set an “outperform” rating and a $75.00 price target for the company.

Institutional Trading of Legend Biotech

A number of hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC increased its holdings in shares of 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 lifted its stake 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 period. OFI Invest Asset Management grew its position in 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 in the last quarter. Hantz Financial Services Inc. increased its stake in Legend Biotech by 913.0% during the second 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 period. Finally, Raymond James Financial Inc. bought a new position in Legend Biotech during the second quarter valued at about $78,000. 70.89% of the stock is owned by institutional investors.

Legend Biotech Trading Down 2.6%

NASDAQ:LEGN opened at $18.06 on Friday. The company’s 50 day moving average is $21.05 and its 200-day moving average is $29.03. The company has a quick ratio of 2.80, a current ratio of 2.86 and a debt-to-equity ratio of 0.17. Legend Biotech has a 12 month low of $16.24 and a 12 month high of $45.30. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -27.78 and a beta of 0.10.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $272.33 million during 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%. Legend Biotech’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) EPS. Equities analysts anticipate that Legend Biotech will post -1.31 EPS for the current year.

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.