Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Receives $67.80 Consensus PT from Brokerages

by · The Markets Daily

Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN – Get Free Report) have earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $67.00.

Several analysts have recently commented on the company. Oppenheimer started coverage on Legend Biotech in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $75.00 target price for the company. HC Wainwright reiterated a “buy” rating on shares of Legend Biotech in a research note on Wednesday, November 26th. Johnson Rice set a $60.00 target price on shares of Legend Biotech in a research note on Friday, October 17th. Cantor Fitzgerald cut their price objective on Legend Biotech from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, TD Cowen lowered Legend Biotech from a “buy” rating to a “hold” rating in a research report on Thursday.

Check Out Our Latest Stock Analysis on Legend Biotech

Legend Biotech Trading Down 11.4%

Shares of NASDAQ:LEGN opened at $20.76 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.80 and a current ratio of 2.86. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -31.94 and a beta of 0.12. Legend Biotech has a 1-year low of $19.61 and a 1-year high of $45.30. The company has a 50 day moving average price of $24.39 and a 200 day moving average price of $31.52.

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

Institutional Investors Weigh In On Legend Biotech

A number of large investors have recently bought and sold shares of LEGN. Suvretta Capital Management LLC boosted its stake in shares of Legend Biotech by 1.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 3,818,009 shares of the company’s stock worth $124,505,000 after acquiring an additional 44,000 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Legend Biotech by 20.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company’s stock valued at $83,089,000 after buying an additional 425,684 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Legend Biotech by 4.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,632,967 shares of the company’s stock worth $53,251,000 after acquiring an additional 72,371 shares during the period. Matthews International Capital Management LLC raised its holdings in Legend Biotech by 17.3% in the 2nd quarter. Matthews International Capital Management LLC now owns 1,293,052 shares of the company’s stock worth $45,890,000 after acquiring an additional 191,165 shares during the period. Finally, IvyRock Asset Management HK Ltd lifted its position in Legend Biotech by 3.1% during the 2nd quarter. IvyRock Asset Management HK Ltd now owns 869,900 shares of the company’s stock worth $30,873,000 after acquiring an additional 25,900 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Company Profile

(Get Free Report)

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.

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