Legend Biotech (NASDAQ:LEGN – Get Rating) had its target price raised by Barclays from $53.00 to $65.00 in a report released on Wednesday, The Fly reports. They currently have an overweight rating on the stock.
Several other equities analysts have also commented on LEGN. Piper Sandler upped their target price on Legend Biotech from $72.00 to $78.00 and gave the company an overweight rating in a report on Tuesday, December 20th. Morgan Stanley upped their target price on Legend Biotech from $60.00 to $65.00 and gave the company an overweight rating in a report on Tuesday. Evercore ISI started coverage on Legend Biotech in a report on Tuesday, November 1st. They set an outperform rating for the company. UBS Group started coverage on Legend Biotech in a report on Tuesday, December 6th. They set a buy rating and a $66.00 target price for the company. Finally, Cowen started coverage on Legend Biotech in a report on Tuesday, November 1st. They issued an outperform rating for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $70.14.
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Legend Biotech Stock Down 2.1 %
Shares of Legend Biotech stock opened at $52.71 on Wednesday. The firm has a market cap of $8.65 billion, a P/E ratio of -45.24 and a beta of -0.13. The business has a 50-day moving average price of $51.28 and a 200 day moving average price of $48.02. Legend Biotech has a fifty-two week low of $30.75 and a fifty-two week high of $57.72.
Hedge Funds Weigh In On Legend Biotech
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. acquired a new stake in Legend Biotech in the second quarter worth approximately $33,000. Macquarie Group Ltd. lifted its position in Legend Biotech by 78.5% in the third quarter. Macquarie Group Ltd. now owns 2,951 shares of the company's stock worth $121,000 after purchasing an additional 1,298 shares during the period. Nomura Holdings Inc. acquired a new stake in Legend Biotech in the second quarter worth approximately $215,000. Dupont Capital Management Corp acquired a new stake in Legend Biotech in the fourth quarter worth approximately $216,000. Finally, Ensign Peak Advisors Inc lifted its position in Legend Biotech by 157.1% in the third quarter. Ensign Peak Advisors Inc now owns 5,400 shares of the company's stock worth $220,000 after purchasing an additional 3,300 shares during the period. 38.88% of the stock is owned by institutional investors.
Legend Biotech Company Profile
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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 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 revlimid-refractory multiple myeloma.
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