Pictet Asset Management Holding SA Grows Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Pictet Asset Management Holding SA grew its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 2.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,669 shares of the company’s stock after buying an additional 2,223 shares during the period. Pictet Asset Management Holding SA’s holdings in Legend Biotech were worth $2,918,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Legend Biotech by 1,052.7% in the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $56,000 after acquiring an additional 1,579 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Legend Biotech during the fourth quarter valued at approximately $77,000. Quantbot Technologies LP bought a new stake in shares of Legend Biotech in the 3rd quarter valued at approximately $148,000. Public Employees Retirement System of Ohio purchased a new position in shares of Legend Biotech in the 3rd quarter worth approximately $229,000. Finally, Blue Trust Inc. increased its position in shares of Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after purchasing an additional 5,478 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Price Performance

LEGN opened at $32.01 on Friday. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of -33.69 and a beta of 0.21. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a 12-month low of $30.17 and a 12-month high of $60.87. The business’s fifty day simple moving average is $36.12 and its 200-day simple moving average is $39.05.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.46. The company had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. During the same period in the prior year, the business earned ($0.40) EPS. The firm’s quarterly revenue was up 134.6% on a year-over-year basis. On average, equities research analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LEGN. Piper Sandler reiterated an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a research report on Monday, December 30th. Morgan Stanley cut their price target on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. 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. Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

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).