<div id="readability-page-1"><p><span>Legend Biotech (NASDAQ:LEGN - Get Free Report)</span> had its price objective dropped by research analysts at Royal Bank Of Canada  from $66.00 to $62.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an &#34;outperform&#34; rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 209.77% from the company's current price.</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 research analysts also recently commented on LEGN. Raymond James Financial  restated an &#34;outperform&#34; rating on shares of Legend Biotech in a research report on Monday, February 23rd. Rothschild &amp; Co Redburn cut Legend Biotech from a &#34;buy&#34; rating to a &#34;neutral&#34; rating and set a $24.00 target price on the stock. in a report on Thursday, February 12th. UBS Group dropped their target price on shares of Legend Biotech from $54.00 to $48.00 and set a &#34;buy&#34; rating on the stock in a report on Monday, December 8th. Truist Financial  set a $70.00 price target on Legend Biotech in a report on Tuesday. Finally, TD Cowen  reiterated a &#34;hold&#34; rating and issued a $21.00 price objective (down from $62.00) on shares of Legend Biotech in a research note on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating, four have assigned  a Hold rating and one  has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of &#34;Moderate Buy&#34; and an average price target of $58.38.</p><p><b>Check Out Our Latest Analysis on Legend Biotech</b></p><h2>Legend Biotech Stock Up 2.3%</h2><ul><li>Why Legend Biotech Stock Is Having Its Best Month Yet</li></ul><p>NASDAQ:LEGN traded up $0.46 during trading hours on Wednesday, reaching $20.02. 249,786 shares of the stock were exchanged, compared to its average volume of 2,559,654. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.86 and a quick ratio of 2.80. Legend Biotech has a twelve month low of $16.24 and a twelve month high of $45.30. The firm has a 50 day moving average of $19.51 and a 200 day moving average of $26.47. The stock has a market cap of $3.70 billion, a PE ratio of -30.77 and a beta of 0.07. </p><p>Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.18. The company had revenue of $306.30 million during the quarter, compared to the consensus estimate of $310.21 million. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.47%. The company's quarterly revenue was up 64.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS.  On average, equities analysts expect that  Legend Biotech will post -1.31 earnings per share for the current year. </p><h2>Hedge Funds Weigh In On Legend Biotech</h2><p>Hedge funds and other institutional investors have recently modified their holdings of the business. Resona Asset Management Co. Ltd. boosted its position in  Legend Biotech by 25.5% in the second quarter. Resona Asset Management Co. Ltd. now owns 21,901 shares of the company's stock worth $775,000 after purchasing an additional 4,451 shares during the last quarter.  Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of  Legend Biotech by 34.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 74,751 shares of the company's stock valued at $2,653,000 after purchasing an additional 19,141 shares during the last quarter.  Campbell &amp; CO Investment Adviser LLC bought a new stake in shares of  Legend Biotech during the 2nd quarter worth $721,000.  PNC Financial Services Group Inc. boosted its holdings in shares of  Legend Biotech by 41.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,936 shares of the company's stock worth $246,000 after buying an additional 2,020 shares during the last quarter.  Finally, Candriam S.C.A. grew its position in  Legend Biotech by 18.0% during the second quarter. Candriam S.C.A. now owns 261,815 shares of the company's stock valued at $9,292,000 after buying an additional 39,983 shares during the period. Hedge funds and other institutional investors own  70.89% of the company's stock. </p><h2>About Legend Biotech</h2> (Get Free Report)<p>Legend Biotech <span>NASDAQ: LEGN<span></span></span> is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson &amp; Johnson.  </p><p>The company's lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.</p><h2>Read More</h2><ul><li>Five stocks we like better than Legend Biotech</li><li>The gold chart Wall Street is terrified of…</li><li>What a Former CIA Agent Knows About the Coming Collapse</li><li>Elon Musk already made me a “wealthy man”</li><li>Unlocked: Elon Musk’s Next Big IPO</li><li>1,500 Banks Just Handed the Fed Your Bank Account</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9TEVHTg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9TEVHTg"/></p><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 reporting and unbiased coverage. 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

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<p>Royal Bank Of Canada has lowered its price target for Legend Biotech (NASDAQ:LEGN) from $66.00 to $62.00 while maintaining an "outperform" rating. This suggests a potential upside of 209.77% from the current price. Other analysts have varied opinions, with some maintaining buy ratings and others downgrading their targets. Currently, Legend Biotech's stock is trading at $20.02, with a market cap of $3.70 billion and a negative net margin of 26.37%. The company reported a quarterly revenue increase of 64.2% year-over-year.</p>

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Royal Bank Of Canada Has Lowered Expectations for Legend Biotech (NASDAQ:LEGN) Stock Price