In yesterday’s Wall Street session, Legend Biotech Corporation (NASDAQ:LEGN) shares traded at $47.21, up 4.31% from the previous session.
As of this writing, 11 analysts cover Legend Biotech Corporation (NASDAQ:LEGN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $87.00 and a low of $65.00, we find $75.00. Given the previous closing price of $45.26, this indicates a potential upside of 65.71 percent. LEGN stock price is now -4.92% away from the 50-day moving average and -1.66% away from the 200-day moving average. The market capitalization of the company currently stands at $8.17B.
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There are 1 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $73.67 as their price target over the next twelve months.
With the price target of $66, UBS recently initiated with Buy rating for Legend Biotech Corporation (NASDAQ: LEGN)., while ‘Cowen’ rates the stock as ‘Outperform’.
A total of 1.37% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LEGN stock. A new stake in Legend Biotech Corporation shares was purchased by MASSACHUSETTS FINANCIAL SERVICES CO /MA/ during the first quarter worth $48,343,000. AVIDITY PARTNERS MANAGEMENT LP invested $45,794,000 in shares of LEGN during the first quarter. In the first quarter, BRAIDWELL LP acquired a new stake in Legend Biotech Corporation valued at approximately $31,069,000. ROBECO INSTITUTIONAL ASSET MANAGEMENT B.V. acquired a new stake in LEGN for approximately $3,800,000. SCHRODER INVESTMENT MANAGEMENT GROUP purchased a new stake in LEGN valued at around $3,528,000 in the second quarter. In total, there are 286 active investors with 38.80% ownership of the company’s stock.
Tuesday morning saw Legend Biotech Corporation (NASDAQ: LEGN) opened at $45.56. During the past 12 months, Legend Biotech Corporation has had a low of $30.75 and a high of $57.72. As of last week, the company has a debt-to-equity ratio of 0.35, a current ratio of 3.20, and a quick ratio of 3.20. The fifty day moving average price for LEGN is $49.60 and a two-hundred day moving average price translates $48.05 for the stock.
The latest earnings results from Legend Biotech Corporation (NASDAQ: LEGN) was released for Mar, 2022. According to the Biotechnology Company, earnings per share came in at -$0.26, beating analysts’ expectations of -$0.46 by 0.2. This compares to -$0.61 EPS in the same period last year. The company reported revenue of $41.84 million for the quarter, compared to $14.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 190.47 percent. For the current quarter, analysts expect LEGN to generate $31.69M in revenue.
Legend Biotech Corporation(LEGN) Company Profile
Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery and development 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), as well as a comparison of the treatment with standard triplet therapy in revlimid-refractory multiple myeloma. The company also has a portfolio of earlier-stage autologous product candidates, which are in Phase I clinical trials for the treatment of gastric cancer and T cell lymphoma. In addition, it is developing CAR-T product candidates targeting CD20/CD22/CD19 for the treatment of non-hodgkins lymphoma, diffuse large B-cell lymphoma, and acute lymphoblastic leukemia. Further, the company has product candidates in early preclinical and clinical development for the treatment of solid tumors as well as infectious diseases. It has collaboration and license agreement with Janssen Biotech, Inc. for the development and commercialization of ciltacabtagene autoleucel. Legend Biotech Corporation was founded in 2014 and is based in Somerset, New Jersey. Legend Biotech Corporation is a subsidiary of Genscript Biotech Corporation.
