Legend Biotech Co. (NASDAQ:LEGN) Receives $80.62 Average Price Target from Brokerages

Legend Biotech Co. (NASDAQ:LEGN) has been assigned a consensus rating of “Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $80.62.

Several analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target on the stock. Piper Sandler reissued an “overweight” rating and set a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. HC Wainwright reissued a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 price target on shares of Legend Biotech in a research note on Monday, December 9th.

Institutional Investors Weigh In On Legend Biotech

A number of large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in shares of Legend Biotech during the third quarter valued at about $148,000. SG Americas Securities LLC bought a new position in shares of Legend Biotech during the third quarter valued at about $212,000. Public Employees Retirement System of Ohio bought a new position in shares of Legend Biotech during the third quarter valued at about $229,000. Aigen Investment Management LP bought a new position in shares of Legend Biotech during the third quarter valued at about $300,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Legend Biotech during the third quarter valued at about $306,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Up 2.6 %

Shares of LEGN opened at $33.62 on Thursday. The company has a 50-day simple moving average of $37.75 and a 200-day simple moving average of $46.46. The firm has a market capitalization of $6.14 billion, a P/E ratio of -35.39 and a beta of 0.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. Legend Biotech has a 52 week low of $31.20 and a 52 week high of $70.13.

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

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).