<div id="readability-page-1"><p>Shares of Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) reached a new 52-week low on Thursday after Truist Financial lowered their price target on the stock from $88.00 to $71.00. Truist Financial currently has a buy rating on the stock. Legend Biotech traded as low as $27.54 and last traded at $27.80, with a volume of 4184571 shares trading hands. The stock had previously closed at $31.08.</p><div><p><span></span><span>Get <strong>Legend Biotech</strong> alerts:</span></p></div><ul><li>CPI Data Sparks Rally in Biotech Stocks</li></ul><p>Several other brokerages also recently issued reports on LEGN. Morgan Stanley reduced their price target on shares of Legend Biotech from $82.00 to $80.00 and set an &#34;overweight&#34; rating for the company in a report on Monday, March 17th. Royal Bank of Canada  reaffirmed an &#34;outperform&#34; rating and issued a $84.00 price objective on shares of Legend Biotech in a report on Tuesday, April 22nd. Cantor Fitzgerald  reissued an &#34;overweight&#34; rating and issued a $55.00 price target on shares of Legend Biotech in a report on Wednesday. Guggenheim  reissued a &#34;neutral&#34; rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, HC Wainwright  reissued a &#34;buy&#34; rating and issued a $75.00 price target on shares of Legend Biotech in a report on Wednesday, April 16th. One investment analyst  has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of &#34;Moderate Buy&#34; and a consensus target price of $74.73.</p><p><b>View Our Latest Stock Analysis on LEGN</b></p><h2>Institutional Investors Weigh In On Legend Biotech</h2><ul><li>Why Legend Biotech Stock Is Having Its Best Month Yet</li></ul><p>Hedge funds have recently modified their holdings of the business. Westfield Capital Management Co. LP raised its stake in shares of  Legend Biotech by 21.1% in the first quarter. Westfield Capital Management Co. LP now owns 6,917,567 shares of the company's stock valued at $234,713,000 after purchasing an additional 1,203,871 shares in the last quarter.  Suvretta Capital Management LLC acquired a new position in shares of  Legend Biotech in the fourth quarter valued at $113,767,000.  Invesco Ltd. raised its stake in  Legend Biotech by 44.7% during the fourth quarter. Invesco Ltd. now owns 3,309,971 shares of the company's stock worth $107,706,000 after acquiring an additional 1,022,365 shares in the last quarter.  Braidwell LP raised its stake in  Legend Biotech by 93.2% during the fourth quarter. Braidwell LP now owns 2,977,951 shares of the company's stock worth $96,903,000 after acquiring an additional 1,436,400 shares in the last quarter.  Finally, Massachusetts Financial Services Co. MA raised its stake in  Legend Biotech by 0.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,270,264 shares of the company's stock worth $77,030,000 after acquiring an additional 6,708 shares in the last quarter. 70.89% of the stock is owned by institutional investors. </p><h2>Legend Biotech Stock Down 10.6%</h2><p>The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a 50 day simple moving average of $33.79 and a 200-day simple moving average of $36.09. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of -29.26 and a beta of 0.20. </p><p>Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $195.05 million during the quarter, compared to analyst estimates of $190.83 million.  On average, sell-side analysts forecast that  Legend Biotech Co. will post -1.31 EPS for the current fiscal year. </p><h2>Legend Biotech Company Profile</h2> (Get Free Report)<p>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).</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Legend Biotech</li><li>Market Cap Calculator: How to Calculate Market Cap</li><li>SMCI Stock Rally: 45% Gain in 2 Days Could Be Just the Start</li><li>Using the MarketBeat Dividend Tax Calculator</li><li>AMD’s AI-Powered Stock Price Rally Just Shifted Gears</li><li>What does consumer price index measure? </li><li>5 Hot Small-Cap Insiders Bought at the Peak of Tariff Fears</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Legend Biotech Right Now?</h2><p>Before you consider Legend Biotech, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Legend Biotech wasn't on the list.</p><p>While Legend Biotech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

LEGN

<p>Legend Biotech (NASDAQ:LEGN) shares hit a new 52-week low of $27.54 after Truist Financial downgraded its price target from $88 to $71, maintaining a buy rating. The stock closed at $27.80, down 10.6%. Other brokerages have also adjusted their price targets, with an average consensus target of $74.73. The company reported a quarterly EPS of ($0.07), exceeding estimates, and has a market cap of $5.11 billion. Legend Biotech focuses on developing cell therapies for oncology.</p>

Legend Biotech (NASDAQ:LEGN) Hits New 52-Week Low on Analyst Downgrade