While Legend Biotech Corp ADR has underperformed by -4.81%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, LEGN fell by -33.63%, with highs and lows ranging from $77.32 to $45.52, whereas the simple moving average fell by -28.67% in the last 200 days.
On April 17, 2024, Scotiabank Upgraded Legend Biotech Corp ADR (NASDAQ: LEGN) to Sector Outperform. A report published by Cantor Fitzgerald on April 03, 2024, Initiated its previous ‘Overweight’ rating for LEGN. Raymond James also rated LEGN shares as ‘Outperform’, setting a target price of $86 on the company’s shares in an initiating report dated March 13, 2024. Goldman initiated its ‘Buy’ rating for LEGN, as published in its report on November 06, 2023. William Blair’s report from May 25, 2023 suggests a price prediction of $64 for LEGN shares, giving the stock a ‘Mkt Perform’ rating. Daiwa Securities also rated the stock as ‘Buy’.
Analysis of Legend Biotech Corp ADR (LEGN)
Further, the quarter-over-quarter increase in sales is 190.43%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Legend Biotech Corp ADR’s future performance, with equity being one of the most critical indicators. Taking into account the quick ratio of the company, currently set at 6.83, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and LEGN is recording an average volume of 971.82K. On a monthly basis, the volatility of the stock is set at 3.94%, whereas on a weekly basis, it is put at 4.70%, with a loss of -7.50% over the past seven days. Furthermore, long-term investors anticipate a median target price of $86.29, showing growth from the present price of $45.17, which can serve as yet another indication of whether LEGN is worth investing in or should be passed over.
How Do You Analyze Legend Biotech Corp ADR Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.78%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 46.94% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
LEGN shares are owned by institutional investors to the tune of 46.94% at present.
