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Legend Biotech Corporation (LEGN) Is Another Fantastic Bargain Stock

Legend Biotech Corporation (NASDAQ:LEGN) has seen 0.46 million shares traded in the recent trading session. The company, currently valued at $9.09B, closed the recent trade at $53.30 per share which meant it lost -$0.68 on the day or -1.26% during that session. The LEGN stock price is -8.29% off its 52-week high price of $57.72 and 42.31% above the 52-week low of $30.75. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.83 million shares traded. The 3-month trading volume is 672.55K shares.

The consensus among analysts is that Legend Biotech Corporation (LEGN) is an Overweight stock at the moment, with a recommendation rating of 1.90. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 1 out of 13 have rated it as a Hold, with 10 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.32.

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Legend Biotech Corporation (NASDAQ:LEGN) trade information

Sporting -1.26% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the LEGN stock price touched $53.30 or saw a rise of 4.33%. Year-to-date, Legend Biotech Corporation shares have moved 8.13%, while the 5-day performance has seen it change -5.91%. Over the past 30 days, the shares of Legend Biotech Corporation (NASDAQ:LEGN) have changed 6.98%. Short interest in the company has seen 6.92 million shares shorted with days to cover at 9.73.

Wall Street analysts have a consensus price target for the stock at $64.10, which means that the shares’ value could jump 16.85% from the levels at last check today. The projected low price target is $16.00 while the price target rests at a high of $79.00. In that case, then, we find that the latest price level in today’s session is -48.22% off the targeted high while a plunge would see the stock lose 69.98% from the levels at last check today.

Legend Biotech Corporation (LEGN) estimates and forecasts

Figures show that Legend Biotech Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 8.83% over the past 6 months, with this year growth rate of -86.67%, compared to 4.50% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 3.00% and 23.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 74.90%.

4 analysts offering their estimates for the company have set an average revenue estimate of $28.51 million for the current quarter. 4 have an estimated revenue figure of $35.17 million for the next quarter concluding in Sep 2022. Year-ago sales stood $20.23 million and $16.88 million respectively for this quarter and the next, and analysts expect sales will grow by 40.90% for the current quarter and 108.30% for the next.

LEGN Dividends

Legend Biotech Corporation is expected to release its next earnings report between March 16 and March 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Legend Biotech Corporation (NASDAQ:LEGN)’s Major holders

Insiders own 1.35% of the company shares, while shares held by institutions stand at 32.13% with a share float percentage of 32.57%. Investors are also buoyed by the number of investors in a company, with Legend Biotech Corporation having a total of 252 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 6.66 million shares worth more than $366.5 million. As of Jun 29, 2022, FMR, LLC held 4.06% of shares outstanding.

The other major institutional holder is HHLR Advisors, LTD, with the holding of over 4.44 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $244.01 million and represent 2.70% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and Vanguard Specialized-Health Care Fund. As of Jun 29, 2022, the former fund manager holds about 2.50% shares in the company for having 4.1 million shares of worth $225.62 million while later fund manager owns 1.48 million shares of worth $70.07 million as of Jul 30, 2022, which makes it owner of about 0.90% of company’s outstanding stock.

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