Avior Wealth Management LLC Buys 4,686 Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN)

Avior Wealth Management LLC increased its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 45.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,902 shares of the company’s stock after acquiring an additional 4,686 shares during the quarter. Avior Wealth Management LLC’s holdings in Legend Biotech were worth $506,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Suvretta Capital Management LLC bought a new stake in Legend Biotech during the 4th quarter valued at $113,767,000. Deerfield Management Company L.P. Series C bought a new stake in Legend Biotech during the 4th quarter valued at $50,493,000. Braidwell LP increased its stake in Legend Biotech by 93.2% during the 4th quarter. Braidwell LP now owns 2,977,951 shares of the company’s stock valued at $96,903,000 after purchasing an additional 1,436,400 shares in the last quarter. Invesco Ltd. increased its stake in Legend Biotech by 44.7% during the 4th quarter. Invesco Ltd. now owns 3,309,971 shares of the company’s stock valued at $107,706,000 after purchasing an additional 1,022,365 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Legend Biotech by 155.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company’s stock valued at $48,991,000 after purchasing an additional 915,891 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Price Performance

LEGN opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.20 and a quick ratio of 5.07. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -57.63 and a beta of 0.13. The firm’s fifty day moving average price is $32.28 and its two-hundred day moving average price is $34.15. Legend Biotech Corporation Sponsored ADR has a 1 year low of $27.34 and a 1 year high of $60.87.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. The company had revenue of $195.05 million for the quarter, compared to the consensus estimate of $190.83 million. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. The firm’s quarterly revenue was up 107.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.16) EPS. As a group, analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LEGN has been the subject of a number of recent research reports. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley decreased their price target on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Legend Biotech in a report on Wednesday, April 16th. Truist Financial cut their price objective on shares of Legend Biotech from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Legend Biotech in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.20.

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).