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

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) has received a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned 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 analysts that have issued ratings on the stock in the last year is $55.0769.

Several research analysts recently issued reports on LEGN shares. Jefferies Financial Group set a $21.00 price target on shares of Legend Biotech in a research report on Thursday, January 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $66.00 price objective on shares of Legend Biotech in a research note on Tuesday, January 20th. Cantor Fitzgerald dropped their target price on Legend Biotech from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Oppenheimer initiated coverage on Legend Biotech in a research report on Wednesday, January 7th. They set an “outperform” rating and a $75.00 target price for the company. Finally, Morgan Stanley lowered their price target on Legend Biotech from $83.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th.

Institutional Investors Weigh In On Legend Biotech

Several large investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC acquired a new position in Legend Biotech in the second quarter valued at about $219,000. TD Asset Management Inc increased its holdings in shares of Legend Biotech by 9.8% during the second quarter. TD Asset Management Inc now owns 103,392 shares of the company’s stock worth $3,669,000 after buying an additional 9,200 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Legend Biotech during the second quarter worth approximately $458,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Legend Biotech in the second quarter valued at approximately $723,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Legend Biotech by 913.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after acquiring an additional 1,890 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Down 2.6%

LEGN opened at $18.06 on Friday. The company has a market capitalization of $3.34 billion, a P/E ratio of -27.78 and a beta of 0.10. 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’s fifty day moving average price is $21.05 and its two-hundred day moving average price is $29.03. Legend Biotech has a fifty-two week low of $16.24 and a fifty-two week high of $45.30.

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

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.