Bridgewater Associates LP Has $8.09 Million Stake in Legend Biotech Co. (NASDAQ:LEGN)

Bridgewater Associates LP grew its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 165,975 shares of the company’s stock after purchasing an additional 516 shares during the quarter. Bridgewater Associates LP owned about 0.09% of Legend Biotech worth $8,088,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Legend Biotech by 4.0% in the third quarter. FMR LLC now owns 18,330,219 shares of the company’s stock valued at $893,232,000 after buying an additional 708,620 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Legend Biotech by 5.6% in the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock worth $245,526,000 after acquiring an additional 266,296 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Legend Biotech by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock worth $110,868,000 after purchasing an additional 314,449 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Legend Biotech by 0.3% during the second quarter. Federated Hermes Inc. now owns 1,541,345 shares of the company’s stock valued at $68,266,000 after purchasing an additional 4,285 shares during the last quarter. Finally, Tri Locum Partners LP increased its holdings in shares of Legend Biotech by 25.6% in the second quarter. Tri Locum Partners LP now owns 356,532 shares of the company’s stock valued at $15,791,000 after purchasing an additional 72,759 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LEGN shares. Redburn Atlantic began coverage on Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a research note on Wednesday, November 13th. Scotiabank lifted their price objective on Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research report on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $81.46.

Legend Biotech Stock Up 1.3 %

Shares of NASDAQ LEGN opened at $43.13 on Friday. Legend Biotech Co. has a 52-week low of $36.92 and a 52-week high of $70.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The stock has a market cap of $7.91 billion, a P/E ratio of -45.40 and a beta of 0.11. The firm has a 50 day moving average price of $44.29 and a 200 day moving average price of $47.98.

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