Zurcher Kantonalbank Zurich Cantonalbank Has $2.45 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 61.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,268 shares of the company’s stock after acquiring an additional 19,198 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Legend Biotech were worth $2,450,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LEGN. Bridgewater Associates LP lifted its holdings in shares of Legend Biotech by 0.3% during the 3rd quarter. Bridgewater Associates LP now owns 165,975 shares of the company’s stock valued at $8,088,000 after buying an additional 516 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Legend Biotech during the 3rd quarter valued at about $148,000. FMR LLC lifted its holdings in shares of Legend Biotech by 4.0% during the 3rd 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. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Legend Biotech during the 3rd quarter valued at about $306,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Legend Biotech by 5.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock valued at $245,526,000 after buying an additional 266,296 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LEGN. HC Wainwright reiterated a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research note on Tuesday, October 29th. Scotiabank raised their price objective on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Monday, August 12th. Finally, Redburn Atlantic started coverage on Legend Biotech in a research note on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Legend Biotech currently has an average rating of “Buy” and an average target price of $81.46.

Legend Biotech Price Performance

Shares of NASDAQ:LEGN opened at $43.68 on Wednesday. Legend Biotech Co. has a 1-year low of $36.92 and a 1-year high of $70.13. The firm has a market capitalization of $8.01 billion, a PE ratio of -45.98 and a beta of 0.08. The business’s 50 day moving average is $44.08 and its 200-day moving average is $47.98. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $143.91 million. During the same quarter last year, the firm earned ($0.17) EPS. Legend Biotech’s revenue for the quarter was up 66.9% compared to the same quarter last year. Sell-side analysts predict that Legend Biotech Co. will post -1.23 earnings per share 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).