Lansforsakringar Fondforvaltning AB publ Takes Position in Legend Biotech Co. (NASDAQ:LEGN)

Lansforsakringar Fondforvaltning AB publ bought a new stake in Legend Biotech Co. (NASDAQ:LEGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,093 shares of the company’s stock, valued at approximately $914,000.

A number of other large investors also recently modified their holdings of the stock. Signaturefd LLC lifted its holdings in Legend Biotech by 1,052.7% during the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after acquiring an additional 1,579 shares during the period. GF Fund Management CO. LTD. bought a new stake in Legend Biotech during the fourth quarter worth $56,000. Shell Asset Management Co. lifted its holdings in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock worth $68,000 after acquiring an additional 800 shares during the period. OFI Invest Asset Management bought a new stake in Legend Biotech during the fourth quarter worth $77,000. Finally, Quadrant Capital Group LLC lifted its holdings in Legend Biotech by 4,296.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company’s stock worth $124,000 after acquiring an additional 3,738 shares during the period. Institutional investors own 70.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on LEGN shares. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 price target on shares of Legend Biotech in a report on Tuesday, April 22nd. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Legend Biotech in a research report on Wednesday, April 16th. Truist Financial decreased their target price on Legend Biotech from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, May 14th. Finally, Morgan Stanley decreased their target price on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.20.

Legend Biotech Price Performance

Shares of NASDAQ LEGN opened at $28.97 on Friday. The stock has a market cap of $5.32 billion, a PE ratio of -30.49 and a beta of 0.20. Legend Biotech Co. has a fifty-two week low of $27.34 and a fifty-two week high of $60.87. 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 stock has a fifty day moving average of $31.91 and a 200-day moving average of $34.99.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. The company had revenue of $195.05 million during the quarter, compared to analysts’ expectations of $190.83 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm’s quarterly revenue was up 107.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) earnings per share. Equities research analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share for the current year.

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).