Legend Biotech (NASDAQ:LEGN) Hits New 12-Month Low at $45.52

Legend Biotech Co. (NASDAQ:LEGN) reached a new 52-week low during trading on Monday . The company traded as low as $45.52 and last traded at $45.75, with a volume of 131838 shares trading hands. The stock had previously closed at $46.19.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group lifted their price objective on Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Raymond James initiated coverage on shares of Legend Biotech in a research note on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 price objective on the stock. Barclays lifted their target price 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. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Legend Biotech in a research report on Tuesday, April 16th. Finally, Cantor Fitzgerald assumed coverage on Legend Biotech in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.26.

Legend Biotech Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 6.92 and a quick ratio of 6.83. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of -30.84 and a beta of 0.01. The business’s fifty day moving average price is $59.31 and its 200-day moving average price is $60.78.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.30. The firm had revenue of $76.50 million during the quarter, compared to analyst estimates of $95.63 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The firm’s quarterly revenue was up 177.2% compared to the same quarter last year. On average, research analysts forecast that Legend Biotech Co. will post -1.43 EPS for the current year.

Hedge Funds Weigh In On Legend Biotech

Hedge funds have recently modified their holdings of the company. IFM Investors Pty Ltd bought a new stake in Legend Biotech during the first quarter worth $208,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Legend Biotech by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 164,573 shares of the company’s stock worth $9,231,000 after acquiring an additional 1,443 shares during the period. Wellington Management Group LLP boosted its stake in Legend Biotech by 71.6% in the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock valued at $138,776,000 after acquiring an additional 962,381 shares during the last quarter. Krane Funds Advisors LLC grew its position in shares of Legend Biotech by 2.3% during the 4th quarter. Krane Funds Advisors LLC now owns 20,440 shares of the company’s stock valued at $1,230,000 after acquiring an additional 451 shares during the period. Finally, Quarry LP purchased a new stake in shares of Legend Biotech during the 4th quarter worth approximately $45,000. Institutional investors own 70.89% of the company’s stock.

About Legend Biotech

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).