Legend Biotech Corporation (NASDAQ:LEGN) does about 711.56K shares in volume on a normal day but saw 988421 shares change hands in Tuesday trading. The company now has a market cap of 8.01B USD. Its current market price is $48.77, marking a decrease of -4.39% compared to the previous close of $51.01. The 52 week high reached by this stock is $57.67 whilst the lowest price level in 52 weeks is $30.75. The script in recent trading has seen the stock touch a high of $50.475 and a low of $47.49.
Legend Biotech Corporation (LEGN) has a 20-day trading average at $50.83 and the current price is -15.43% off the 52-week high compared with 58.58% distance from its 52-week low. The 50-day simple moving average of the closing price is $45.28 and its 200-day simple moving average is $43.79. If we look at the stock’s price movements over the week, volatility stands at 4.13%, which decreases to 4.04% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 48.04 to suggest the stock is neutral.
11 analysts observing the Legend Biotech Corporation (LEGN) stock have set the 12-month price targets for the company’s shares at between $16.00 and $79.00. The consensus objective for the share price is $68.00, suggesting that the stock has a potential upside of 28.28% over the period. The median price target is 31.79% away from the current levels at $71.50.
FactSet Research has provided data showing that 11 brokerages have issued ratings for the stock. 1 analysts have rated it as a sell, while 1 advise that it is a overweight. 8 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Strong Buy the stock.
The current price level is -4.03%, 7.97%, and 11.45% away from its SMA20, SMA50, and SMA200 respectively, with the LEGN price moving above the 50-day SMA on November 22. Legend Biotech Corporation (LEGN) stock is down -7.10% over the week and 3.83% over the past month. Its price is 4.63% year-to-date and -6.73% over the past year.
The stock last released its quarterly earnings report for quarter ended 3/30/2022, with the company’s earnings per share (EPS) of -$0.13 above consensus estimates by $0.33. The company’s next earnings report is expected on 03/17/2023, with forecasts estimating quarterly EPS at -$0.32 and -$1.25 for whole year. LEGN’s earnings per share are forecast to grow by 8.80% this year and 1.60% over next year. Expected sales for next quarter are $35.17 million, which analysts say will come at $157.06 million for the current fiscal year and next year at $217.13 million. In addition, estimates put the company’s current quarterly revenue at an average of $28.51 million.
Its 12-month price target is $71.50. To reach the target analysts have set, the stock logically needs to grow 28.28 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $16.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $79.00.
Outstanding shares total 167.40M with insiders holding 1.35% of the shares and institutional holders owning 32.13% of the company’s common stock. The company has a return on investment of -62.80%. Price to book ratio is 17.17 and price to sales ratio is 68.49.
According to a U.S. Securities and Exchange Commission filing, American Funds Small Cap World Fu has reduced its position in Legend Biotech Corporation (LEGN) to 4,033,599 shares, mirroring a recent drop by -1.67%. American Funds Small Cap World Fu dumped 68541.0 shares of Legend Biotech Corporation common stock bringing its total worth to about $200.95 million at the end of recent close, SEC documents show. American Funds Small Cap World Fu isn’t the only investment manager who changed stakes and is followed by Vanguard Health Care Fund, which sold off -0.93 million shares to end up with 1,483,204 shares worth $73.89 million.