Legend Biotech (NASDAQ:LEGN) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Legend Biotech (NASDAQ:LEGN) in a report issued on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

Several other research analysts also recently commented on LEGN. Cantor Fitzgerald started coverage on shares of Legend Biotech in a research note on Wednesday, April 3rd. They set an overweight rating and a $82.00 price target on the stock. Barclays boosted their price target on shares of Legend Biotech from $93.00 to $94.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. Raymond James assumed coverage on Legend Biotech in a research note on Wednesday, March 13th. They set an outperform rating and a $86.00 price objective on the stock. Scotiabank upgraded Legend Biotech from a sector perform rating to a sector outperform rating and set a $65.00 price objective on the stock in a report on Wednesday, April 17th. Finally, UBS Group increased their target price on Legend Biotech from $76.00 to $81.00 and gave the company a buy rating in a report on Monday, March 18th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Legend Biotech currently has an average rating of Buy and a consensus target price of $81.10.

Legend Biotech Stock Up 4.8 %

Shares of NASDAQ:LEGN opened at $41.41 on Thursday. The firm has a market capitalization of $7.55 billion, a PE ratio of -31.85 and a beta of 0.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 5.57 and a current ratio of 5.66. Legend Biotech has a 52-week low of $39.13 and a 52-week high of $77.32. The firm has a fifty day moving average of $50.00 and a 200 day moving average of $56.99.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. The firm had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $143.24 million. Legend Biotech had a negative return on equity of 27.91% and a negative net margin of 135.92%. The company’s revenue for the quarter was up 158.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.40) EPS. As a group, research analysts anticipate that Legend Biotech will post -1.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Legend Biotech in the 4th quarter worth approximately $45,000. American International Group Inc. lifted its stake in Legend Biotech by 50.0% in the first quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after acquiring an additional 300 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Legend Biotech by 53.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company’s stock valued at $91,000 after acquiring an additional 472 shares in the last quarter. Barometer Capital Management Inc. bought a new stake in Legend Biotech in the fourth quarter valued at $120,000. Finally, California State Teachers Retirement System increased its position in Legend Biotech by 196.3% during the 1st quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock valued at $188,000 after purchasing an additional 2,216 shares during the period. 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).