Harbor Capital Advisors Inc. Has $787,000 Position in Legend Biotech Corporation Sponsored ADR $LEGN

Harbor Capital Advisors Inc. lessened its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 51.8% in the third quarter, HoldingsChannel.com reports. The fund owned 24,145 shares of the company’s stock after selling 25,911 shares during the period. Harbor Capital Advisors Inc.’s holdings in Legend Biotech were worth $787,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. OFI Invest Asset Management raised its position in Legend Biotech by 102.6% during the third quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock valued at $40,000 after purchasing an additional 622 shares in the last quarter. Quarry LP bought a new position in shares of Legend Biotech in the 1st quarter valued at $48,000. Hantz Financial Services Inc. raised its holdings in shares of Legend Biotech by 913.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after buying an additional 1,890 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Legend Biotech during the 2nd quarter worth $78,000. Finally, Allostery Investments LP bought a new stake in shares of Legend Biotech during the 1st quarter worth $161,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Stock Down 2.0%

NASDAQ:LEGN opened at $22.53 on Friday. Legend Biotech Corporation Sponsored ADR has a one year low of $21.19 and a one year high of $45.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.86 and a quick ratio of 2.80. The company has a market cap of $4.16 billion, a PE ratio of -34.66 and a beta of 0.09. The firm’s 50 day simple moving average is $27.96 and its 200 day simple moving average is $33.16.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.47%. The firm had revenue of $272.33 million during the quarter, compared to the consensus estimate of $277.91 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The company’s revenue for the quarter was up 70.0% on a year-over-year basis. On average, research analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

LEGN has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $74.00 target price on shares of Legend Biotech in a research report on Monday, December 8th. Cantor Fitzgerald decreased their price target on shares of Legend Biotech from $75.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Barclays dropped their price objective on shares of Legend Biotech from $94.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. JPMorgan Chase & Co. decreased their target price on shares of Legend Biotech from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Finally, UBS Group lowered their price target on shares of Legend Biotech from $54.00 to $48.00 and set a “buy” rating for the company in a report on Monday, December 8th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Legend Biotech has an average rating of “Moderate Buy” and an average target price of $68.10.

About Legend Biotech

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.