Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $68.10.

A number of research analysts recently issued reports on LEGN shares. HC Wainwright reissued a “buy” rating on shares of Legend Biotech in a research report on Wednesday, November 26th. Johnson Rice set a $60.00 target price on shares of Legend Biotech in a report on Friday, October 17th. UBS Group dropped their price target on Legend Biotech from $54.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. Morgan Stanley reduced their price objective on Legend Biotech from $83.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $74.00 target price on shares of Legend Biotech in a report on Monday, December 8th.

Legend Biotech Trading Up 0.1%

LEGN opened at $22.87 on Thursday. 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 52 week low of $21.19 and a 52 week high of $45.30. The stock has a market cap of $4.22 billion, a PE ratio of -35.18 and a beta of 0.09. The business has a 50 day moving average of $28.34 and a 200-day moving average of $33.35.

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 analysts’ consensus estimates 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 return on equity of 24.47% and a negative net margin of 26.37%.The firm’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.34) earnings per share. Equities research analysts predict that Legend Biotech will post -1.31 earnings per share for the current fiscal year.

Institutional Trading of Legend Biotech

Several institutional investors have recently bought and sold shares of LEGN. Clearstead Advisors LLC raised 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 acquiring an additional 367 shares during the period. Parallel Advisors LLC increased 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 worth $34,000 after purchasing an additional 662 shares in the last quarter. OFI Invest Asset Management raised its position 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 purchasing an additional 622 shares during the period. Quarry LP purchased a new position in shares of Legend Biotech during the 1st quarter valued at $48,000. Finally, Hantz Financial Services Inc. lifted its stake 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 buying an additional 1,890 shares in the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Company Profile

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.