Legend Biotech (NASDAQ:LEGN) Now Covered by Truist Financial

Stock analysts at Truist Financial started coverage on shares of Legend Biotech (NASDAQ:LEGNGet Free Report) in a research report issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $88.00 price target on the stock. Truist Financial’s price target would indicate a potential upside of 117.39% from the company’s previous close.

LEGN has been the topic of a number of other reports. Scotiabank upgraded Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 target price on the stock in a research note on Wednesday, April 17th. Raymond James started 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 started coverage on Legend Biotech in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 target price for the company. Royal Bank of Canada upped their target price on Legend Biotech from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research report on Tuesday, June 4th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $81.67.

View Our Latest Stock Report on LEGN

Legend Biotech Stock Performance

Shares of LEGN stock opened at $40.48 on Monday. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -31.14 and a beta of 0.09. Legend Biotech has a 52 week low of $38.60 and a 52 week high of $77.32. The company has a quick ratio of 5.57, a current ratio of 5.66 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $45.05 and a 200-day moving average of $54.73.

Legend Biotech (NASDAQ:LEGNGet Free Report) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.13. The business had revenue of $93.90 million during the quarter, compared to the consensus estimate of $143.24 million. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. Legend Biotech’s revenue was up 158.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) EPS. On average, equities analysts forecast that Legend Biotech will post -1.93 earnings per share for the current year.

Institutional Investors Weigh In On Legend Biotech

Institutional investors have recently modified their holdings of the stock. Trexquant Investment LP purchased a new stake in shares of Legend Biotech in the fourth quarter worth $1,561,000. Massachusetts Financial Services Co. MA boosted its position in shares of Legend Biotech by 6.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,984,826 shares of the company’s stock valued at $119,427,000 after buying an additional 117,794 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Legend Biotech by 15.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,065,889 shares of the company’s stock valued at $64,135,000 after buying an additional 142,118 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Legend Biotech by 312.1% during the fourth quarter. Hsbc Holdings PLC now owns 196,715 shares of the company’s stock valued at $11,836,000 after buying an additional 148,985 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its position in shares of Legend Biotech by 413.7% during the fourth quarter. Alberta Investment Management Corp now owns 62,160 shares of the company’s stock valued at $3,740,000 after buying an additional 50,060 shares during the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.

About Legend Biotech

(Get Free Report)

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).

Featured Stories

Analyst Recommendations for Legend Biotech (NASDAQ:LEGN)

Receive News & Ratings for Legend Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legend Biotech and related companies with MarketBeat.com's FREE daily email newsletter.