Legend Biotech Co. (NASDAQ:LEGN – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Friday after HC Wainwright raised their price target on the stock from $82.00 to $85.00. HC Wainwright currently has a buy rating on the stock. Legend Biotech traded as high as $77.32 and last traded at $76.31, with a volume of 69879 shares traded. The stock had previously closed at $76.01.
A number of other brokerages also recently commented on LEGN. Morgan Stanley upped their target price on Legend Biotech from $65.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada increased their price objective on Legend Biotech from $74.00 to $83.00 in a research report on Friday, May 19th. JPMorgan Chase & Co. increased their target price on Legend Biotech from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. William Blair assumed coverage on Legend Biotech in a research note on Thursday, May 25th. They issued a “market perform” rating and a $64.00 price objective on the stock. Finally, Barclays raised their price objective on Legend Biotech from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Legend Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $80.90.
Institutional Trading of Legend Biotech
Several institutional investors and hedge funds have recently made changes to their positions in LEGN. American International Group Inc. purchased a new stake in Legend Biotech in the 2nd quarter valued at approximately $33,000. Lazard Asset Management LLC acquired a new stake in Legend Biotech in the 4th quarter valued at $33,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Legend Biotech by 33.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 878 shares of the company’s stock valued at $42,000 after acquiring an additional 220 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Legend Biotech by 78.5% during the third quarter. Macquarie Group Ltd. now owns 2,951 shares of the company’s stock valued at $121,000 after acquiring an additional 1,298 shares in the last quarter. Finally, CI Investments Inc. lifted its position in shares of Legend Biotech by 779.6% during the fourth quarter. CI Investments Inc. now owns 2,463 shares of the company’s stock worth $123,000 after purchasing an additional 2,183 shares during the last quarter. 51.27% of the stock is owned by hedge funds and other institutional investors.
Legend Biotech Trading Down 1.8 %
Legend Biotech (NASDAQ:LEGN – Get Free Report) last posted its quarterly earnings data on Thursday, May 18th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.16. The company had revenue of $36.34 million for the quarter, compared to analyst estimates of $37.06 million. As a group, analysts anticipate that Legend Biotech Co. will post -2.47 EPS for the current year.
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).
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