Legend Biotech’s (LEGN) “Neutral” Rating Reiterated at Guggenheim

Legend Biotech (NASDAQ:LEGN)‘s stock had its “neutral” rating reiterated by equities research analysts at Guggenheim in a report issued on Wednesday,Benzinga reports.

Several other research firms also recently issued reports on LEGN. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. HC Wainwright increased their price target on Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.67.

Legend Biotech Stock Up 1.6 %

Shares of NASDAQ LEGN traded up $0.61 on Wednesday, hitting $37.80. The company had a trading volume of 142,899 shares, compared to its average volume of 1,179,054. The firm has a market capitalization of $6.90 billion, a P/E ratio of -39.61 and a beta of 0.19. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. Legend Biotech has a 12-month low of $30.17 and a 12-month high of $69.24. The business has a 50 day moving average of $35.47 and a two-hundred day moving average of $41.14.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.46. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. Legend Biotech’s revenue for the quarter was up 134.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.40) earnings per share. As a group, equities research analysts forecast that Legend Biotech will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Legend Biotech

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after purchasing an additional 1,579 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Legend Biotech in the 4th quarter worth about $56,000. Shell Asset Management Co. lifted its position in shares of Legend Biotech by 62.0% in the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock worth $68,000 after buying an additional 800 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Legend Biotech in the 4th quarter valued at about $77,000. Finally, Quadrant Capital Group LLC grew its position in shares of Legend Biotech by 4,296.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company’s stock valued at $124,000 after buying an additional 3,738 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

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).