Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Receives $55.08 Average PT from Analysts

Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $55.0769.

A number of equities analysts have recently weighed in on LEGN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Legend Biotech in a research report on Monday, December 29th. Barclays cut their price target on Legend Biotech from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. UBS Group decreased their price objective on Legend Biotech from $54.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Jefferies Financial Group set a $21.00 target price on Legend Biotech in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald decreased their price target on Legend Biotech from $75.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th.

Legend Biotech Stock Up 3.0%

LEGN opened at $18.11 on Friday. The firm has a market cap of $3.34 billion, a P/E ratio of -27.86 and a beta of 0.10. The business’s fifty day simple moving average is $20.56 and its 200 day simple moving average is $28.40. Legend Biotech has a 52 week low of $16.24 and a 52 week high of $45.30. The company has a quick ratio of 2.80, a current ratio of 2.86 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Legend Biotech

Hedge funds have recently made changes to their positions in the stock. Clearstead Advisors LLC increased its holdings in shares of Legend Biotech by 76.5% during the 3rd quarter. Clearstead Advisors LLC now owns 847 shares of the company’s stock worth $28,000 after buying an additional 367 shares during the last quarter. OFI Invest Asset Management grew its position in Legend Biotech by 102.6% during the third quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock valued at $40,000 after acquiring an additional 622 shares during the period. Parallel Advisors LLC increased its stake in Legend Biotech by 171.9% during the third quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock worth $34,000 after acquiring an additional 662 shares during the last quarter. Fox Run Management L.L.C. raised its holdings in shares of Legend Biotech by 4.3% in the 4th quarter. Fox Run Management L.L.C. now owns 20,806 shares of the company’s stock worth $452,000 after purchasing an additional 863 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Legend Biotech by 31.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,800 shares of the company’s stock valued at $124,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Company Profile

Legend Biotech (NASDAQ: LEGN) is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.

The company’s lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.