What Does the Market Think of Legend Biotech (LEGN) Shares?

This morning we watched Legend Biotech drop -2.1% to a price of $55.76 per share. The Large-Cap Pharmaceutical company is now trading -35.58% below its average target price of $86.56. Analysts have set target prices ranging from $65.0 to $100.0 per share for Legend Biotech, and have given the stock an average rating of buy.

The stock has an above average percentage of its shares sold short at 11.1%, and a short ratio of 10.73. The company's insiders own 1.29% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 48.7% of Legend Biotech's shares being owned by this investor type.

Institutions Invested in Legend Biotech

Date Reported Holder Percentage Shares Value
2023-12-31 FMR, LLC 8% 12,797,994 $713,616,123
2023-12-31 Price (T.Rowe) Associates Inc 7% 10,808,216 $602,666,106
2023-12-31 RA Capital Management, L.P. 4% 6,264,707 $349,320,051
2023-12-31 HHLR Advisors, LTD 4% 5,984,550 $333,698,497
2023-12-31 Blackrock Inc. 3% 5,266,188 $293,642,634
2023-12-31 Capital World Investors 1% 2,385,960 $133,041,125
2023-12-31 Wellington Management Group, LLP 1% 2,306,391 $128,604,358
2023-12-31 Massachusetts Financial Services Co. 1% 1,984,826 $110,673,894
2023-12-31 Paradigm Biocapital Advisors LP 1% 1,894,644 $105,645,346
2023-12-31 Janus Henderson Group PLC 1% 1,865,157 $104,001,151

Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Legend Biotech.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.