Legend Biotech Co. (NASDAQ:LEGN) Given Average Rating of “Buy” by Brokerages

Legend Biotech Co. (NASDAQ:LEGN) has been given an average recommendation of “Buy” by the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $79.50.

A number of research firms have weighed in on LEGN. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. HC Wainwright reissued a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th.

Institutional Trading of Legend Biotech

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Legend Biotech during the 4th quarter worth $776,000. Polar Asset Management Partners Inc. raised its holdings in Legend Biotech by 65.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 24,638 shares of the company’s stock worth $802,000 after purchasing an additional 9,779 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Legend Biotech during the fourth quarter valued at about $56,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Legend Biotech by 36.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 136,438 shares of the company’s stock valued at $4,440,000 after buying an additional 36,181 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in shares of Legend Biotech by 10.0% in the 4th quarter. Woodline Partners LP now owns 120,304 shares of the company’s stock valued at $3,915,000 after buying an additional 10,909 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Up 3.0 %

Shares of NASDAQ LEGN opened at $33.98 on Friday. The business’s 50 day moving average price is $35.23 and its 200-day moving average price is $41.92. Legend Biotech has a fifty-two week low of $30.17 and a fifty-two week high of $69.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The company has a market cap of $6.21 billion, a price-to-earnings ratio of -35.77 and a beta of 0.18.

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).