Legend Biotech (NASDAQ:LEGN) Now Covered by Analysts at Redburn Atlantic

Redburn Atlantic started coverage on shares of Legend Biotech (NASDAQ:LEGN) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $86.00 price objective on the stock.

LEGN has been the subject of a number of other research reports. HC Wainwright reissued a buy rating and issued a $73.00 price objective on shares of Legend Biotech in a report on Monday, September 30th. Truist Financial assumed coverage on shares of Legend Biotech in a research report on Monday, June 17th. They issued a buy rating and a $88.00 price target for the company. Scotiabank boosted their price objective on Legend Biotech from $70.00 to $76.00 and gave the stock a sector outperform rating in a research report on Monday, August 12th. TD Cowen dropped their target price on Legend Biotech from $71.00 to $67.00 and set a buy rating on the stock in a report on Monday, July 15th. Finally, Royal Bank of Canada reissued an outperform rating and set a $86.00 price objective on shares of Legend Biotech in a report on Friday, September 27th. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $82.08.

Legend Biotech Trading Down 3.1 %

Shares of Legend Biotech stock opened at $48.06 on Tuesday. The firm has a fifty day moving average price of $52.99 and a 200 day moving average price of $49.88. The stock has a market cap of $8.76 billion, a PE ratio of -36.97 and a beta of 0.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.84 and a quick ratio of 4.78. Legend Biotech has a 1 year low of $38.60 and a 1 year high of $70.78.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.49. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $125.25 million. During the same quarter last year, the business posted ($0.27) earnings per share. The business’s quarterly revenue was up 154.4% compared to the same quarter last year. Equities research analysts predict that Legend Biotech will post -1.46 earnings per share for the current year.

Institutional Trading of Legend Biotech

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of Legend Biotech by 10,075.0% during the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after purchasing an additional 806 shares during the last quarter. Quarry LP purchased a new position in Legend Biotech during the fourth quarter worth $45,000. American International Group Inc. raised its holdings in shares of Legend Biotech by 50.0% in the first quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after acquiring an additional 300 shares during the last quarter. AM Squared Ltd purchased a new stake in shares of Legend Biotech in the second quarter valued at $71,000. Finally, Barometer Capital Management Inc. acquired a new position in Legend Biotech in the 4th quarter valued at about $120,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

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).