Legend Biotech Corporation (NASDAQ: LEGN) stock fell -3.51% on Tuesday to $66.54 against a previous-day closing price of $68.96. With 0.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.8 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $68.81 whereas the lowest price it dropped to was $66.32. The 52-week range on LEGN shows that it touched its highest point at $73.30 and its lowest point at $37.30 during that stretch. It currently has a 1-year price target of $79.67.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LEGN was down-trending over the past week, with a drop of -8.54%, but this was down by -2.23% over a month. Three-month performance surged to 40.77% while six-month performance rose 27.69%. The stock gained 56.16% in the past year, while it has gained 33.29% so far this year. A look at the trailing 12-month EPS for LEGN yields -3.28 with Next year EPS estimates of -2.45. For the next quarter, that number is -0.80. This implies an EPS growth rate of 2.10% for this year and 22.20% for next year.
Float and Shares Shorts:
At present, 170.54 million LEGN shares are outstanding with a float of 168.20 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.12 million, which was 2.50% higher than short shares on Mar 30, 2023. In addition to Dr. Ying Huang Ph.D. as the firm’s CEO & Director, Ms. Lori A. Macomber CPA serves as its Chief Financial Officer.
Through their ownership of 39.27% of LEGN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 23.56% of LEGN, in contrast to 15.20% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in LEGN with 9.50% of the stake, Fidelity Management & Research Co holds 15,678,869 shares worth 15,678,869. A second-largest stockholder of LEGN, HHLR Advisors Ltd., holds 5,136,617 shares, controlling over 3.11% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in LEGN, holding 2,694,534 shares or 1.63% stake. With a 1.93% stake in LEGN, the American Funds Small Cap World Fu is the largest stakeholder. A total of 3,184,563 shares are owned by the mutual fund manager. The Fidelity Select Port. – Health Ca, which owns about 1.10% of LEGN stock, is the second-largest Mutual Fund holder. It holds 1,811,900 shares valued at 124.5 million. Vanguard Health Care Fund holds 0.90% of the stake in LEGN, owning 1,483,204 shares worth 101.91 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, LEGN reported revenue of $11.97M and operating income of -$119.28M. The EBITDA in the recently reported quarter was -$125.53M and diluted EPS was -$1.24.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LEGN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LEGN analysts setting a high price target of $90.00 and a low target of $65.00, the average target price over the next 12 months is $79.91. Based on these targets, LEGN could surge 35.26% to reach the target high and fall by -2.31% to reach the target low. Reaching the average price target will result in a growth of 20.09% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.