News

Fintel reports that on May 23, 2024, Deutsche Bank initiated coverage of Legend Biotech Corporation - Depositary Receipt () (NasdaqGS:LEGN) with a Buy recommendation.

Analyst Price Forecast Suggests 120.56% Upside

As of May 22, 2024, the average one-year price target for Legend Biotech Corporation - Depositary Receipt () is 87.19. The forecasts range from a low of 65.65 to a high of $99.75. The average price target represents an increase of 120.56% from its latest reported closing price of 39.53.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Legend Biotech Corporation - Depositary Receipt () is 425MM, an increase of 24.02%. The projected annual non-GAAP EPS is -0.74.

What is the Fund Sentiment?

There are 438 funds or institutions reporting positions in Legend Biotech Corporation - Depositary Receipt (). This is an decrease of 12 owner(s) or 2.67% in the last quarter. Average portfolio weight of all funds dedicated to LEGN is 0.38%, an increase of 11.46%. Total shares owned by institutions increased in the last three months by 0.38% to 100,143K shares.

The put/call ratio of LEGN is 0.62, indicating a bullish outlook.

What are Other Shareholders Doing?

Price T Rowe Associates holds 10,949K shares representing 6.01% ownership of the company. In its prior filing, the firm reported owning 10,808K shares , representing an increase of 1.29%. The firm decreased its portfolio allocation in LEGN by 57.18% over the last quarter.

Ra Capital Management holds 6,861K shares representing 3.76% ownership of the company. In its prior filing, the firm reported owning 6,265K shares , representing an increase of 8.69%. The firm decreased its portfolio allocation in LEGN by 16.19% over the last quarter.

Hillhouse Capital Advisors holds 5,985K shares representing 3.28% ownership of the company. No change in the last quarter.

SMCWX - SMALLCAP WORLD FUND INC holds 3,148K shares representing 1.73% ownership of the company. No change in the last quarter.

Wellington Management Group Llp holds 2,614K shares representing 1.43% ownership of the company. In its prior filing, the firm reported owning 2,306K shares , representing an increase of 11.78%. The firm increased its portfolio allocation in LEGN by 0.30% over the last quarter.

Legend Biotech Background Information
(This description is provided by the company.)

Legend Biotech is a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications. The team of over 800 employees across the United States, China and Europe, along with its differentiated technology, global development, and manufacturing strategies and expertise, provide us with the strong potential to discover, develop, and manufacture cutting edge cell therapies for patients in need.

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This story originally appeared on Fintel.

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