Guggenheim Reaffirms Neutral Rating for Legend Biotech (NASDAQ:LEGN)

Legend Biotech (NASDAQ:LEGN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports.

A number of other equities research analysts have also recently commented on LEGN. Cantor Fitzgerald reissued an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. HC Wainwright raised their price objective on Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Legend Biotech has an average rating of “Moderate Buy” and a consensus target price of $79.09.

Legend Biotech Trading Down 0.5 %

NASDAQ LEGN opened at $38.05 on Wednesday. The business has a 50 day simple moving average of $35.65 and a 200 day simple moving average of $41.10. Legend Biotech has a one year low of $30.17 and a one year high of $69.17. The stock has a market capitalization of $6.95 billion, a P/E ratio of -40.05 and a beta of 0.19. 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 (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $179.00 million. During the same quarter last year, the firm posted ($0.40) earnings per share. The company’s revenue for the quarter was up 134.6% compared to the same quarter last year. Research analysts expect that Legend Biotech will post -1.31 earnings per share for the current year.

Institutional Trading of Legend Biotech

A number of hedge funds have recently bought and sold shares of LEGN. Signaturefd LLC lifted its holdings in Legend Biotech by 1,052.7% during the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after acquiring an additional 1,579 shares during the period. GF Fund Management CO. LTD. bought a new stake in Legend Biotech during the fourth quarter worth $56,000. Shell Asset Management Co. lifted its holdings in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock worth $68,000 after acquiring an additional 800 shares during the period. OFI Invest Asset Management bought a new stake in Legend Biotech during the fourth quarter worth $77,000. Finally, Quadrant Capital Group LLC lifted its holdings in Legend Biotech by 4,296.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company’s stock worth $124,000 after acquiring an additional 3,738 shares during the period. 70.89% of the stock is currently owned by institutional investors.

About Legend Biotech

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).