Legend Biotech’s (LEGN) “Buy” Rating Reiterated at HC Wainwright

Legend Biotech (NASDAQ:LEGNGet Free Report)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They currently have a $87.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 54.17% from the stock’s current price.

LEGN has been the topic of several other research reports. Scotiabank started coverage on Legend Biotech in a research report on Tuesday, December 19th. They issued a “sector perform” rating and a $65.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. Barclays upped their target price on Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. UBS Group upped their target price on Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Raymond James assumed coverage on Legend Biotech in a research note on Wednesday, March 13th. They set an “outperform” rating and a $86.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.76.

Get Our Latest Stock Analysis on Legend Biotech

Legend Biotech Price Performance

Shares of NASDAQ LEGN opened at $56.43 on Monday. The company has a quick ratio of 6.83, a current ratio of 6.92 and a debt-to-equity ratio of 0.22. Legend Biotech has a 52 week low of $44.52 and a 52 week high of $77.32. The business’s 50 day moving average price is $60.60 and its 200 day moving average price is $61.92. The firm has a market cap of $9.31 billion, a P/E ratio of -38.13 and a beta of 0.01.

Legend Biotech (NASDAQ:LEGNGet Free Report) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The business had revenue of $76.50 million for the quarter, compared to analyst estimates of $95.63 million. The business’s quarterly revenue was up 177.2% on a year-over-year basis. On average, sell-side analysts expect that Legend Biotech will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BluePath Capital Management LLC acquired a new position in Legend Biotech in the 3rd quarter valued at $32,000. American International Group Inc. purchased a new stake in Legend Biotech in the 2nd quarter valued at $33,000. Lazard Asset Management LLC purchased a new stake in Legend Biotech in the 4th quarter valued at $33,000. Coppell Advisory Solutions LLC purchased a new stake in Legend Biotech in the 2nd quarter valued at $41,000. Finally, Quarry LP purchased a new stake in Legend Biotech in the 4th quarter valued at $45,000. 70.89% of the stock is owned by institutional investors and hedge funds.

About Legend Biotech

(Get Free Report)

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).

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Analyst Recommendations for Legend Biotech (NASDAQ:LEGN)

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