Eagle Health Investments LP Makes New $8.88 Million Investment in Legend Biotech Corporation Sponsored ADR $LEGN

Eagle Health Investments LP acquired a new position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) during the 4th quarter, Holdings Channel reports. The firm acquired 408,652 shares of the company’s stock, valued at approximately $8,884,000. Legend Biotech makes up 2.0% of Eagle Health Investments LP’s holdings, making the stock its 18th biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in Legend Biotech by 76.5% during the 3rd quarter. Clearstead Advisors LLC now owns 847 shares of the company’s stock worth $28,000 after buying an additional 367 shares during the period. Parallel Advisors LLC increased its position in Legend Biotech by 171.9% during the 3rd quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock worth $34,000 after buying an additional 662 shares during the period. Public Employees Retirement System of Ohio increased its position in Legend Biotech by 31.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,800 shares of the company’s stock worth $124,000 after buying an additional 900 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Legend Biotech by 19.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 7,345 shares of the company’s stock worth $240,000 after buying an additional 1,177 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Legend Biotech by 4.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 25,789 shares of the company’s stock worth $841,000 after buying an additional 1,200 shares during the period. Institutional investors own 70.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on LEGN shares. Raymond James Financial restated an “outperform” rating on shares of Legend Biotech in a research report on Monday, February 23rd. TD Cowen raised their price target on Legend Biotech to $29.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada raised their price target on Legend Biotech from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Jefferies Financial Group restated a “buy” rating and issued a $69.00 price target on shares of Legend Biotech in a research report on Tuesday, March 10th. Finally, Truist Financial cut Legend Biotech from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Legend Biotech presently has an average rating of “Moderate Buy” and an average target price of $59.00.

Legend Biotech Stock Up 4.4%

NASDAQ:LEGN opened at $28.12 on Thursday. The stock’s 50-day simple moving average is $21.81 and its 200 day simple moving average is $22.52. The firm has a market capitalization of $5.20 billion, a PE ratio of -41.35 and a beta of 0.29. Legend Biotech Corporation Sponsored ADR has a twelve month low of $16.24 and a twelve month high of $45.30.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $305.10 million during the quarter, compared to analyst estimates of $306.51 million. Legend Biotech had a negative net margin of 21.98% and a negative return on equity of 24.92%. The business’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period last year, the business earned ($0.07) earnings per share. On average, analysts anticipate that Legend Biotech Corporation Sponsored ADR will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ying Huang sold 9,936 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $8.77, for a total value of $87,138.72. Following the sale, the chief executive officer directly owned 247,438 shares of the company’s stock, valued at $2,170,031.26. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.02% of the stock is owned by company insiders.

Legend Biotech Profile

Legend Biotech (NASDAQ: LEGN) 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 & Johnson.

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.