Legend Biotech (NASDAQ:LEGN – Get Note)BMO’s stock had its “buy” rating reissued by investment analysts at BMO Capital Markets in a report released on Friday. They currently have a price target of $77.00 on the stock. BMO Capital Markets’ price target indicates upside potential of 37.38% from the stock’s previous close.

Separately, Barclays launched a hedge on Legend Biotech shares in a Tuesday, March 15 report. They set an “overweight” rating and a price target of $53.00 for the company. Five analysts have rated the stock with a buy rating. According to MarketBeat data, Legend Biotech currently has an average rating of “Buy” and an average target price of $65.20.

LEGN stock traded down $0.03 at midday on Friday, hitting $56.05. 438,206 shares of the stock have traded, compared to its average volume of 571,135. The company has a quick ratio of 3.81, a current ratio of 3.83 and a leverage ratio of 0.29. Legend Biotech has a 52 week low of $30.75 and a 52 week high of $58.00. The company has a 50-day moving average of $45.01 and a two-hundred-day moving average of $41.95. The company has a market capitalization of $8.64 billion, a PE ratio of -47.10 and a beta of -0.57.

Legend Biotech (NASDAQ:LEGN – Get Rating) last released its quarterly results on Wednesday, June 1. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.37) by $0.13. Legend Biotech had a negative net margin of 295.68% and a negative return on equity of 109.44%. The company posted revenue of $40.83 million in the quarter, compared to $46.67 million expected by analysts. On average, equity research analysts expect Legend Biotech to post -2.3 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently changed their positions in LEGN. Ensign Peak Advisors Inc acquired a new position in Legend Biotech in the fourth quarter worth approximately $89,000. Daiwa Securities Group Inc. increased its position in Legend Biotech by 2,373.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,696 shares of the company worth $126,000 after purchasing an additional 2,587 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in Legend Biotech in the fourth quarter worth approximately $140,000. Nomura Asset Management Co. Ltd. acquired a new position in Legend Biotech in the fourth quarter worth approximately $210,000. Finally, EFG Asset Management Americas Corp. acquired a new position in Legend Biotech in the fourth quarter worth approximately $234,000.

Legend Biotech Company Profile (Get an evaluation)

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 the international. Its lead product candidate, LCAR-B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM), as well as a treatment comparison to standard triple therapy in revlimid-refractory multiple myeloma.

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