Legend Biotech (NASDAQ:LEGN) Given Buy Rating at HC Wainwright

Legend Biotech (NASDAQ:LEGN)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They presently have a $73.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 27.89% from the stock’s current price.

Several other brokerages have also recently commented on LEGN. Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Friday, June 21st. Piper Sandler restated an “overweight” rating and issued a $90.00 price objective on shares of Legend Biotech in a report on Monday, June 17th. Scotiabank increased their price target on Legend Biotech from $65.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Legend Biotech in a research note on Thursday, May 23rd. They issued a “buy” rating and a $60.00 target price for the company. Finally, Truist Financial began coverage on shares of Legend Biotech in a research report on Monday, June 17th. They set a “buy” rating and a $88.00 price target on the stock. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $81.78.

Legend Biotech Trading Up 1.5 %

Shares of NASDAQ:LEGN opened at $57.08 on Monday. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of -43.91 and a beta of 0.11. 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 12 month low of $38.60 and a 12 month high of $72.38. The company’s fifty day simple moving average is $50.04 and its 200 day simple moving average is $52.45.

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

Institutional Trading of Legend Biotech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Legend Biotech during the fourth quarter valued at $45,000. Blue Trust Inc. boosted its holdings in Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after acquiring an additional 806 shares during the last quarter. American International Group Inc. increased its position in Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after purchasing an additional 300 shares during the period. AM Squared Ltd acquired a new stake in Legend Biotech during the 2nd quarter valued at approximately $71,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Legend Biotech in the 4th quarter worth approximately $120,000. Institutional investors own 70.89% of the company’s stock.

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).