Legend Biotech Corp ADR (NASDAQ:LEGN) price on Wednesday, October 23, fall -2.41% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $43.95.
A look at the stock’s price movement, the close in the last trading session was $45.03, moving within a range at $43.69 and $44.79. The beta value (5-Year monthly) was 0.098. Turning to its 52-week performance, $70.13 and $38.60 were the 52-week high and 52-week low respectively. Overall, LEGN moved -2.89% over the past month.
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Legend Biotech Corp ADR’s market cap currently stands at around $8.05 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 142.84M for the company’s revenue for the quarter, with a low and high estimate of 113.3M and 168.59M respectively. The average forecast suggests up to a 48.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 586.56M, representing a 105.70% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that LEGN is a 100% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 11 recommend LEGN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
LEGN’s current price about -6.65% and -13.26% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 39.02, while 7-day volatility ratio is 4.37% and 5.47% in the 30-day chart. Further, Legend Biotech Corp ADR (LEGN) has a beta value of 0.10, and an average true range (ATR) of 2.37. Analysts have given the company’s stock an average 52-week price target of $86, forecast between a low of $60 and high of $94. Looking at the price targets, the low is -36.52% off current price level while to achieve the yearly target high, price needs to move -113.88%. Nonetheless, investors will most likely welcome a -95.68% jump to $86 which is the analysts’ median price.
If we refocus on Legend Biotech Corp ADR (NASDAQ:LEGN), historical trading data shows that trading volumes averaged 1.89 over the past 10 days and 979.51K over the past 3 months. The company’s latest data on shares outstanding shows there are 181.91 million shares.
The 0.94% of Legend Biotech Corp ADR’s shares are in the hands of company insiders while institutional holders own 50.05% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 12.07 million on 2024-09-30, giving us a short ratio of 12.36. The data shows that as of 2024-09-30 short interest in Legend Biotech Corp ADR (LEGN) stood at 1246.0 of shares outstanding, with shares short rising to 10.22 million registered in 2024-08-30. Current price change has pushed the stock -26.96% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the LEGN stock continues to rise going into the next quarter.
