Legend Biotech’s (LEGN) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Legend Biotech (NASDAQ:LEGN) in a research report report published on Monday morning,Benzinga reports. They currently have a $78.00 target price on the stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $83.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a report on Tuesday, December 10th. Finally, Redburn Atlantic began coverage on Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Legend Biotech currently has a consensus rating of “Buy” and an average price target of $80.62.

Legend Biotech Stock Down 0.7 %

Shares of NASDAQ:LEGN opened at $32.54 on Monday. The company has a 50-day moving average price of $39.25 and a 200 day moving average price of $46.84. 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 has a 12 month low of $32.08 and a 12 month high of $70.13. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -34.25 and a beta of 0.08.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.22. The firm had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company’s quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, equities research analysts predict that Legend Biotech will post -1.23 earnings per share for the current year.

Institutional Trading of Legend Biotech

Hedge funds have recently modified their holdings of the stock. Exome Asset Management LLC acquired a new position in Legend Biotech in the third quarter valued at approximately $2,290,000. Franklin Resources Inc. acquired a new position in shares of Legend Biotech in the 3rd quarter valued at $12,837,000. Geode Capital Management LLC boosted its holdings in Legend Biotech by 3.6% during the third quarter. Geode Capital Management LLC now owns 494,864 shares of the company’s stock worth $23,933,000 after buying an additional 17,337 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Legend Biotech during the third quarter worth $229,000. Finally, Groupama Asset Managment grew its position in Legend Biotech by 20.2% during the third quarter. Groupama Asset Managment now owns 27,374 shares of the company’s stock valued at $1,329,000 after buying an additional 4,592 shares during the period. Hedge funds and other institutional investors own 70.89% of the company’s stock.

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).