Teacher Retirement System of Texas Boosts Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Teacher Retirement System of Texas increased its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,601 shares of the company’s stock after buying an additional 2,752 shares during the period. Teacher Retirement System of Texas’ holdings in Legend Biotech were worth $879,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in Legend Biotech by 53.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company’s stock valued at $91,000 after acquiring an additional 472 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Legend Biotech by 2,134.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,832 shares of the company’s stock valued at $351,000 after acquiring an additional 5,571 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in Legend Biotech during the fourth quarter valued at approximately $404,000. Campbell & CO Investment Adviser LLC purchased a new position in Legend Biotech during the third quarter valued at approximately $484,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Legend Biotech during the third quarter valued at approximately $486,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Down 0.8 %

Shares of LEGN opened at $42.60 on Thursday. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of -32.77 and a beta of 0.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 5.57 and a current ratio of 5.66. Legend Biotech Co. has a fifty-two week low of $42.08 and a fifty-two week high of $77.32. The firm has a 50 day moving average price of $50.99 and a 200-day moving average price of $57.41.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The company had revenue of $93.90 million during the quarter, compared to analyst estimates of $143.24 million. During the same period in the prior year, the business posted ($0.40) EPS. The firm’s revenue was up 158.7% compared to the same quarter last year. As a group, equities research analysts forecast that Legend Biotech Co. will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LEGN shares. Cantor Fitzgerald assumed coverage on shares of Legend Biotech in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price objective for the company. Raymond James assumed coverage on shares of Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 target price for the company. Royal Bank of Canada lifted their target price on shares of Legend Biotech from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. HC Wainwright reiterated a “buy” rating and set a $87.00 target price on shares of Legend Biotech in a research report on Thursday, May 9th. Finally, Barclays lifted their target price on shares of Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Legend Biotech presently has a consensus rating of “Moderate Buy” and an average target price of $82.74.

Legend Biotech 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).