TimesSquare Capital Management LLC Sells 14,336 Shares of Legend Biotech Co. (NASDAQ:LEGN)

TimesSquare Capital Management LLC lessened its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,159,430 shares of the company’s stock after selling 14,336 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Legend Biotech were worth $56,499,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Legend Biotech by 21.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 52,584 shares of the company’s stock worth $2,949,000 after purchasing an additional 9,122 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Legend Biotech during the first quarter worth approximately $1,949,000. Janus Henderson Group PLC grew its position in Legend Biotech by 8.0% during the first quarter. Janus Henderson Group PLC now owns 2,014,012 shares of the company’s stock worth $112,982,000 after buying an additional 148,855 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Legend Biotech by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company’s stock worth $614,137,000 after acquiring an additional 140,904 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Legend Biotech by 82.7% in the 1st quarter. Russell Investments Group Ltd. now owns 183,741 shares of the company’s stock valued at $10,306,000 after acquiring an additional 83,150 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Down 2.2 %

NASDAQ LEGN opened at $40.03 on Friday. Legend Biotech Co. has a twelve month low of $38.60 and a twelve month high of $70.13. The business’s fifty day moving average is $47.55 and its 200 day moving average is $48.45. The company has a quick ratio of 4.78, a current ratio of 4.84 and a debt-to-equity ratio of 0.25. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -51.32 and a beta of 0.11.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.49. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $125.25 million. During the same period last year, the firm posted ($0.27) earnings per share. The business’s revenue for the quarter was up 154.4% on a year-over-year basis. As a group, sell-side analysts expect that Legend Biotech Co. will post -1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LEGN. Scotiabank increased their target price on Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a report on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research note on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a research report on Wednesday, October 16th. TD Cowen reduced their price target on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Redburn Atlantic began coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective for the company. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $81.46.

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).