Analysis Of The Weekly Performance Of Legend Biotech Corporation (LEGN)

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Legend Biotech Corporation (NASDAQ:LEGN) finished Wednesday with a subtraction of -$0.64 to close at $48.05, a downside of -1.31 percent. An average of 557,000 shares of common stock have been traded in the last five days. There was a fall of -$2.41 in the past week, and it reached a new high 11 times over the past 12 months. The last 20 days have seen an average of 676,655 shares traded, while the 50-day average volume stands at 705,428.

LEGN stock has decreased by -0.21% in the last month. The company shares reached their 1-month lowest point of $48.03 on 12/28/22. With the stock rallying to its 52-week high on 07/07/22, shares of the company touched a low of $30.75 and a high of $57.67 in 52 weeks. It has reached a new high 10 times so far this year and achieved 3.09% or $1.44 in price. In spite of this, the price is down -16.68% from the 52-week high.


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Financial Health

The quick ratio of Legend Biotech Corporation for the three months ended March 30 was 3.80, and the current ratio was 3.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.29 and a total debt to equity ratio of 0.29 for the quarter ending March 30. Its gross profit as reported stood at $471.96 million compared to revenue of $92.85 million.

Earnings Surprise

For the three-month period that ended March 30, Legend Biotech Corporation had $0.4 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$386.21 million in the quarter, while revenues were grew 21.42%. The analyst consensus anticipated Legend Biotech Corporation’s latest quarter earnings to come in at -$0.46 per share, but it turned out to be -$0.13, a 71.70% surprise. For the quarter, EBITDA amounted to -$71.07 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Legend Biotech Corporation (LEGN) price momentum. RSI 9-day as of the close on 28 December was 34.24%, suggesting the stock is Neutral, with historical volatility in this time frame at 23.92%.

As of today, LEGN’s price is $49.49 -4.78% or -$2.41 from its 5-day moving average. LEGN is currently trading -0.95% lower than its 20-day SMA and -3.61% lower than its 100-day SMA. However, the stock’s current price level is +19.53% above the SMA50 and +54.90% above the SMA200.

The stochastic %K and %D were 6.81% and 11.70%, respectively, and the average true range (ATR) was 2.15. With the 14-day stochastic at 0.24% and the average true range at 2.22, the RSI (14) stands at 40.76%. The stock has reached -1.14 on the 9-day MACD Oscillator while the 14-day reading was at -2.08.

Analyst Ratings

UBS launched coverage on Legend Biotech Corporation (NASDAQ: LEGN) in its analyst report released on December 06, 2022. The firm assigned the stock a Buy rating. The consensus rating for Legend Biotech Corporation (LEGN) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell LEGN, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 10 others rate it as a “buy”.

What is LEGN’s price target for the next 12 months?

Analysts predict a range of price targets between $16.00 and $79.00, with a median target of $68.50. Taking a look at these predictions, the average price target given by analysts for Legend Biotech Corporation (LEGN) stock is $63.60.

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