Legend Biotech (LEGN) – Research Analysts’ Weekly Ratings Updates

Posted by on Apr 28th, 2023

Legend Biotech (NASDAQ: LEGN) recently received a number of ratings updates from brokerages and research firms:

  • 4/25/2023 – Legend Biotech had its price target raised by analysts at BMO Capital Markets from $79.00 to $90.00.
  • 4/20/2023 – Legend Biotech had its price target raised by analysts at BTIG Research from $75.00 to $85.00. They now have a “buy” rating on the stock.
  • 4/20/2023 – Legend Biotech had its price target raised by analysts at HC Wainwright from $66.00 to $77.00. They now have a “buy” rating on the stock.
  • 4/19/2023 – Legend Biotech had its price target raised by analysts at JPMorgan Chase & Co. from $65.00 to $76.00. They now have an “overweight” rating on the stock.
  • 4/12/2023 – Legend Biotech had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $66.00 price target on the stock.
  • 3/29/2023 – Legend Biotech is now covered by analysts at HC Wainwright. They set a “buy” rating and a $66.00 price target on the stock.
  • 3/24/2023 – Legend Biotech is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $73.00 price target on the stock.

Legend Biotech Stock Up 1.3 %

Shares of LEGN stock opened at $68.82 on Friday. The stock has a 50 day moving average of $50.37 and a 200 day moving average of $50.10. The company has a current ratio of 3.69, a quick ratio of 3.66 and a debt-to-equity ratio of 0.35. The stock has a market cap of $11.36 billion, a P/E ratio of -46.50 and a beta of -0.08. Legend Biotech Co. has a twelve month low of $32.87 and a twelve month high of $70.00.

Legend Biotech (NASDAQ:LEGN – Get Rating) last posted its quarterly earnings data on Friday, February 17th. The company reported ($0.41) earnings per share (EPS) for the quarter. The company had revenue of $11.97 million during the quarter. As a group, sell-side analysts expect that Legend Biotech Co. will post -2.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LEGN. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Legend Biotech by 1.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,853 shares of the company’s stock valued at $728,000 after purchasing an additional 328 shares during the last quarter. Federated Hermes Inc. grew its stake in Legend Biotech by 10.6% in the 3rd quarter. Federated Hermes Inc. now owns 2,338,800 shares of the company’s stock valued at $95,423,000 after buying an additional 225,000 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Legend Biotech during the 3rd quarter worth approximately $9,421,000. Samlyn Capital LLC lifted its stake in Legend Biotech by 96.4% in the 3rd quarter. Samlyn Capital LLC now owns 891,512 shares of the company’s stock valued at $36,373,000 after purchasing an additional 437,505 shares during the last quarter. Finally, Capital Investment Advisory Services LLC raised its stake in shares of Legend Biotech by 4.8% during the fourth quarter. Capital Investment Advisory Services LLC now owns 10,950 shares of the company’s stock valued at $547,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 38.88% of the company’s stock.

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery and development 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), as well as a comparison of the treatment with standard triplet therapy in revlimid-refractory multiple myeloma.

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