Legend Biotech Co. (NASDAQ:LEGN)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $37.39, but opened at $36.60. Legend Biotech shares last traded at $36.71, with a volume of 1,061 shares changing hands.
LEGN has been the subject of several analyst reports. Zacks Investment Research cut shares of Legend Biotech from a “hold” rating to a “sell” rating in a research report on Thursday, August 26th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Legend Biotech in a research report on Tuesday, June 29th.
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The stock’s 50-day moving average is $40.65 and its 200-day moving average is $35.31. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -34.36 and a beta of 0.96. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.05.
Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Sunday, August 22nd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.30). The company had revenue of $20.23 million for the quarter, compared to analyst estimates of $12.50 million. Legend Biotech had a negative return on equity of 101.68% and a negative net margin of 343.40%. On average, equities research analysts anticipate that Legend Biotech Co. will post -0.97 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of LEGN. The Manufacturers Life Insurance Company bought a new stake in Legend Biotech during the 1st quarter worth approximately $9,558,000. Alliancebernstein L.P. grew its holdings in Legend Biotech by 72.5% during the 1st quarter. Alliancebernstein L.P. now owns 2,120,291 shares of the company’s stock worth $61,531,000 after acquiring an additional 890,832 shares during the last quarter. Matthews International Capital Management LLC grew its holdings in Legend Biotech by 36.0% during the 1st quarter. Matthews International Capital Management LLC now owns 1,054,242 shares of the company’s stock worth $30,594,000 after acquiring an additional 279,000 shares during the last quarter. BlackRock Inc. grew its holdings in Legend Biotech by 8.6% during the 1st quarter. BlackRock Inc. now owns 208,979 shares of the company’s stock worth $6,065,000 after acquiring an additional 16,507 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in Legend Biotech during the 1st quarter worth approximately $24,523,000. 19.58% of the stock is currently owned by hedge funds and other institutional investors.
Legend Biotech Company Profile (NASDAQ:LEGN)
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 North America and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM), as well as a comparison of the treatment with standard triplet therapy in relapsed and refractory multiple myeloma.
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