BTIG Research slashes price target on Legend Biotech Corporation [LEGN] – find out why.

Legend Biotech Corporation [NASDAQ: LEGN] stock went on an upward path that rose over 5.06% on Friday, amounting to a one-week price increase of more than 34.63%. The company report on May 18, 2021 that Legend Biotech Reports First Quarter 2021 Financial Results and Recent Highlights.

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Rolling submission of BLA to the FDA completed for ciltacabtagene autoleucel (cilta-cel) for the treatment of relapsed or refractory multiple myeloma (RRMM).

European Marketing Authorisation Application (MAA) submitted for cilta-cel for the treatment of RRMM.

The one-year Legend Biotech Corporation stock forecast points to a potential upside of 21.09. The average equity rating for LEGN stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.13 billion, with 133.15 million shares outstanding and 127.35 million shares in the current float. Compared to the average trading volume of 437.20K shares, LEGN stock reached a trading volume of 1008589 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Legend Biotech Corporation [LEGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LEGN shares is $50.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LEGN stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for Legend Biotech Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 18, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on July 01, 2020, representing the official price target for Legend Biotech Corporation stock. Previously, the target price had yet another raise to $47, while Jefferies analysts kept a Buy rating on LEGN stock.

The Average True Range (ATR) for Legend Biotech Corporation is set at 1.94, with the Price to Sales ratio for LEGN stock in the period of the last 12 months amounting to 65.99. The Price to Book ratio for the last quarter was 25.71, with the Price to Cash per share for the same quarter was set at 3.59.

LEGN Stock Performance Analysis:

Legend Biotech Corporation [LEGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.63. With this latest performance, LEGN shares gained by 40.91% in over the last four-week period, additionally plugging by 42.63% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LEGN stock in for the last two-week period is set at 78.68, with the RSI for the last a single of trading hit 83.97, and the three-weeks RSI is set at 74.25 for Legend Biotech Corporation [LEGN]. The present Moving Average for the last 50 days of trading for this stock 29.18, while it was recorded at 35.98 for the last single week of trading, and 29.11 for the last 200 days.

Insight into Legend Biotech Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Legend Biotech Corporation [LEGN] shares currently have an operating margin of -302.87. Legend Biotech Corporation’s Net Margin is presently recorded at -401.02.

Return on Total Capital for LEGN is now -275.18, given the latest momentum, and Return on Invested Capital for the company is -369.87. Return on Equity for this stock declined to -386.31, with Return on Assets sitting at -60.27. When it comes to the capital structure of this company, Legend Biotech Corporation [LEGN] has a Total Debt to Total Equity ratio set at 1.20. Additionally, LEGN Total Debt to Total Capital is recorded at 1.19, with Total Debt to Total Assets ending up at 0.47. Long-Term Debt to Equity for the company is recorded at 0.68, with the Long-Term Debt to Total Capital now at 0.67.

Reflecting on the efficiency of the workforce at the company, Legend Biotech Corporation [LEGN] managed to generate an average of -$344,670 per employee. Receivables Turnover for the company is 1.29 with a Total Asset Turnover recorded at a value of 0.15.Legend Biotech Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.30.

LEGN Stock EPS

With the latest financial reports released by the company, Legend Biotech Corporation posted -1.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -384.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LEGN.

Legend Biotech Corporation [LEGN] Insider Position Details

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Positions in Legend Biotech Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 40 institutional holders increased their position in Legend Biotech Corporation [NASDAQ:LEGN] by around 6,636,674 shares. Additionally, 26 investors decreased positions by around 6,138,712 shares, while 16 investors held positions by with 13,235,734 shares. The mentioned changes placed institutional holdings at 26,011,120 shares, according to the latest SEC report filing. LEGN stock had 21 new institutional investments in for a total of 4,811,161 shares, while 12 institutional investors sold positions of 3,661,628 shares during the same period.

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