Price T Rowe Associates Inc. MD Has $614.14 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Price T Rowe Associates Inc. MD boosted its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 1.3% during the first quarter, Holdings Channel reports. The fund owned 10,949,120 shares of the company’s stock after purchasing an additional 140,904 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.06% of Legend Biotech worth $614,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Legend Biotech in the 4th quarter valued at $45,000. American International Group Inc. raised its stake in Legend Biotech by 50.0% in the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after acquiring an additional 300 shares during the period. Barometer Capital Management Inc. bought a new stake in Legend Biotech in the 4th quarter valued at $120,000. BNP Paribas bought a new stake in Legend Biotech in the 1st quarter valued at $199,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Legend Biotech in the 1st quarter valued at $203,000. Institutional investors own 70.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LEGN shares. Deutsche Bank Aktiengesellschaft initiated coverage on Legend Biotech in a research note on Thursday, May 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective on shares of Legend Biotech in a research report on Monday, June 17th. HC Wainwright reiterated a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a research report on Thursday, July 18th. Scotiabank increased their price objective on Legend Biotech from $65.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 18th. Finally, TD Cowen lowered their price objective on Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $81.31.

Legend Biotech Price Performance

Shares of NASDAQ LEGN traded down $0.47 during mid-day trading on Monday, reaching $56.14. The company had a trading volume of 161,513 shares, compared to its average volume of 1,091,652. The company has a debt-to-equity ratio of 0.25, a quick ratio of 5.57 and a current ratio of 5.66. Legend Biotech Co. has a one year low of $38.60 and a one year high of $76.21. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of -43.55 and a beta of 0.11. The business’s 50-day simple moving average is $46.70 and its 200 day simple moving average is $52.71.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.13. The business had revenue of $93.90 million for the quarter, compared to analyst estimates of $143.24 million. Legend Biotech had a negative return on equity of 27.91% and a negative net margin of 135.92%. Legend Biotech’s revenue was up 158.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.40) earnings per share. On average, research analysts predict that Legend Biotech Co. will post -1.94 earnings per share for the current fiscal year.

Legend Biotech Profile

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).