Legend Biotech (NASDAQ:LEGN) Earns Buy Rating from Analysts at Daiwa Capital Markets

Daiwa Capital Markets assumed coverage on shares of Legend Biotech (NASDAQ:LEGN – Get Rating) in a report published on Monday, The Fly reports. The firm issued a buy rating on the stock.

Several other analysts also recently issued reports on LEGN. BMO Capital Markets upped their price objective on shares of Legend Biotech from $79.00 to $90.00 in a report on Tuesday, April 25th. HC Wainwright raised their price objective on shares of Legend Biotech from $66.00 to $77.00 and gave the stock a buy rating in a report on Thursday, April 20th. Barclays lifted their target price on shares of Legend Biotech from $65.00 to $90.00 in a research report on Friday, May 19th. Morgan Stanley increased their price target on shares of Legend Biotech from $60.00 to $65.00 and gave the stock an overweight rating in a research report on Tuesday, January 24th. Finally, BTIG Research lifted their price objective on Legend Biotech from $75.00 to $85.00 and gave the company a buy rating in a report on Thursday, April 20th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $77.40.

Legend Biotech Stock Down 4.2 %

LEGN opened at $63.28 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.79 and a current ratio of 3.84. The business has a 50 day moving average price of $59.13 and a 200 day moving average price of $53.27. Legend Biotech has a twelve month low of $37.30 and a twelve month high of $73.30.

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors and hedge funds have recently bought and sold shares of LEGN. American International Group Inc. bought a new position in shares of Legend Biotech in the second quarter valued at about $33,000. Lazard Asset Management LLC bought a new position in shares of Legend Biotech in the fourth quarter worth about $33,000. China Universal Asset Management Co. Ltd. lifted its position 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 worth $42,000 after purchasing an additional 220 shares in the last quarter. CI Investments Inc. grew its stake 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 valued at $123,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Legend Biotech by 78.5% in the third quarter. Macquarie Group Ltd. now owns 2,951 shares of the company’s stock valued at $121,000 after purchasing an additional 1,298 shares in the last quarter. Institutional investors and hedge funds own 38.88% of the company’s stock.

Legend Biotech Company Profile

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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.