Legend Biotech (NASDAQ:LEGN) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Legend Biotech (NASDAQ:LEGN) in a research note published on Monday,Benzinga reports. The brokerage currently has a $78.00 target price on the stock.

LEGN has been the topic of several other reports. HC Wainwright reissued a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a research report on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Redburn Atlantic assumed coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $80.62.

Legend Biotech Stock Up 0.9 %

LEGN stock opened at $32.77 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. Legend Biotech has a 12 month low of $32.08 and a 12 month high of $70.13. The firm has a market capitalization of $5.98 billion, a PE ratio of -34.49 and a beta of 0.08. The company’s 50 day simple moving average is $39.95 and its 200-day simple moving average is $47.09.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.22. The firm had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. Equities analysts expect that Legend Biotech will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Legend Biotech

A number of institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Legend Biotech in the 3rd quarter valued at about $148,000. SG Americas Securities LLC acquired a new position in Legend Biotech in the third quarter valued at approximately $212,000. Public Employees Retirement System of Ohio bought a new position in shares of Legend Biotech during the third quarter valued at approximately $229,000. CIBC Asset Management Inc acquired a new stake in shares of Legend Biotech during the 2nd quarter worth approximately $283,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Legend Biotech by 31.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,540 shares of the company’s stock worth $290,000 after purchasing an additional 1,571 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Company Profile

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).