Massachusetts Financial Services Co. MA Purchases 314,449 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Massachusetts Financial Services Co. MA increased its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 16.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,275,158 shares of the company’s stock after acquiring an additional 314,449 shares during the period. Massachusetts Financial Services Co. MA owned about 1.25% of Legend Biotech worth $110,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LEGN. Blue Trust Inc. grew its holdings in shares of Legend Biotech by 10,075.0% during the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after purchasing an additional 806 shares during the last quarter. American International Group Inc. boosted its position in Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after buying an additional 300 shares during the period. AM Squared Ltd acquired a new position in Legend Biotech in the 2nd quarter valued at approximately $71,000. California State Teachers Retirement System raised its stake in shares of Legend Biotech by 196.3% during the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock valued at $188,000 after acquiring an additional 2,216 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Legend Biotech during the third quarter valued at $212,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Trading Up 3.0 %

NASDAQ:LEGN opened at $40.94 on Friday. Legend Biotech Co. has a 12 month low of $36.92 and a 12 month high of $70.13. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of -43.09 and a beta of 0.11. The firm has a fifty day simple moving average of $44.92 and a two-hundred day simple moving average of $48.06.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. During the same period last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was up 66.9% compared to the same quarter last year. Analysts expect that Legend Biotech Co. will post -1.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on LEGN. Scotiabank increased their price objective on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Wednesday, November 13th. Finally, Redburn Atlantic assumed coverage on Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $81.46.

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).