Legend Biotech (NASDAQ:LEGN) Rating Reiterated by HC Wainwright

Legend Biotech (NASDAQ:LEGN)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $73.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 28.03% from the stock’s previous close.

A number of other research analysts also recently issued reports on LEGN. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research note on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price target on shares of Legend Biotech in a report on Monday, June 17th. TD Cowen cut their price target on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Legend Biotech in a report on Thursday, May 23rd. They set a “buy” rating and a $60.00 price target on the stock. Finally, Truist Financial assumed coverage on shares of Legend Biotech in a report on Monday, June 17th. They set a “buy” rating and a $88.00 price target on the stock. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $81.78.

Legend Biotech Trading Up 0.7 %

NASDAQ LEGN opened at $57.02 on Wednesday. The stock’s fifty day moving average price is $52.25 and its 200-day moving average price is $52.42. The company has a current ratio of 5.66, a quick ratio of 5.57 and a debt-to-equity ratio of 0.25. The stock has a market cap of $10.39 billion, a P/E ratio of -43.86 and a beta of 0.11. Legend Biotech has a 12 month low of $38.60 and a 12 month high of $72.38.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.49. The business had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $125.25 million. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The business’s revenue for the quarter was up 154.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.27) earnings per share. As a group, equities analysts forecast that Legend Biotech will post -1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of Legend Biotech by 10,075.0% during the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after purchasing an additional 806 shares during the last quarter. Quarry LP purchased a new position in shares of Legend Biotech during the fourth quarter worth $45,000. American International Group Inc. raised its holdings in shares of Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after purchasing an additional 300 shares during the last quarter. AM Squared Ltd purchased a new position in Legend Biotech in the second quarter valued at $71,000. Finally, Barometer Capital Management Inc. purchased a new position in Legend Biotech in the fourth quarter valued at $120,000. 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).