Legend Biotech Co. (NASDAQ:LEGN – Get Free Report) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 11,000,000 shares, a drop of 17.0% from the May 31st total of 13,260,000 shares. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is presently 9.7 days.
Legend Biotech Trading Down 2.8 %
Shares of NASDAQ:LEGN traded down $1.28 during trading on Tuesday, hitting $44.74. 908,357 shares of the company were exchanged, compared to its average volume of 1,070,691. The business’s 50 day moving average is $43.77 and its 200-day moving average is $53.60. The company has a quick ratio of 5.57, a current ratio of 5.66 and a debt-to-equity ratio of 0.25. Legend Biotech has a 1-year low of $38.60 and a 1-year high of $77.32.
Legend Biotech (NASDAQ:LEGN – Get Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $143.24 million. During the same period in the prior year, the business earned ($0.40) earnings per share. The company’s revenue for the quarter was up 158.7% compared to the same quarter last year. Sell-side analysts predict that Legend Biotech will post -1.93 EPS for the current year.
Institutional Trading of Legend Biotech
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on LEGN. HC Wainwright restated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a report on Tuesday, June 4th. Raymond James assumed coverage on Legend Biotech in a report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of Legend Biotech in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $90.00 price objective on shares of Legend Biotech in a research report on Monday, June 17th. Finally, Scotiabank upgraded shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price objective for the company in a research report on Wednesday, April 17th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $81.67.
Get Our Latest Stock Report on LEGN
About Legend Biotech
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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