Legend BiotechCorp Stock Forecast - Polynomial Regression

LEGN Stock  USD 63.62  0.55  0.86%   
Legend Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Legend BiotechCorp stock prices and determine the direction of Legend BiotechCorp's future trends based on various well-known forecasting models. However, solely looking at the historical price movement is usually misleading. Macroaxis recommends to always use this module together with analysis of Legend BiotechCorp historical fundamentals such as revenue growth or operating cash flow patterns. Although Legend BiotechCorp naive historical forecasting may sometimes provide an important future outlook for the firm we recommend to always cross-verify it against solid analysis of Legend BiotechCorp systematic risk associated with finding meaningful patterns of Legend BiotechCorp fundamentals over time.
Check out Historical Fundamental Analysis of Legend BiotechCorp to cross-verify your projections. To learn how to invest in Legend Stock, please use our How to Invest in Legend BiotechCorp guide.
  
As of 1st of June 2023, Asset Turnover is likely to grow to 0.10. As of 1st of June 2023, Issuance Purchase of Equity Shares is likely to grow to about 406.9 M, while Weighted Average Shares is likely to drop about 317.4 M.

Open Interest Against 2023-06-16 Legend Option Contracts

Although open interest is a measure utilized in the options markets, it could be used to forecast Legend BiotechCorp's spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest Legend BiotechCorp's options reflect these daily shifts, investors could use the patterns of these changes to develop long and short trading strategies Legend BiotechCorp stock based on available contracts left at the end of a trading day.
Please note, to derive more accurate forecasting about market movement from the current Legend BiotechCorp's open interest, investors have to compare it to Legend BiotechCorp's spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of Legend BiotechCorp is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in Legend. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
Most investors in Legend BiotechCorp cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the Legend BiotechCorp's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Legend BiotechCorp's price structures and extracts relationships that further increase the generated results' accuracy.
Legend BiotechCorp polinomial regression implements a single variable polynomial regression model using the daily prices as the independent variable. The coefficients of the regression for Legend BiotechCorp as well as the accuracy indicators are determined from the period prices.

Legend BiotechCorp Polynomial Regression Price Forecast For the 2nd of June

Given 90 days horizon, the Polynomial Regression forecasted value of Legend BiotechCorp on the next trading day is expected to be 58.76 with a mean absolute deviation of 2.07, mean absolute percentage error of 6.64, and the sum of the absolute errors of 126.23.
Please note that although there have been many attempts to predict Legend Stock prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Legend BiotechCorp's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Legend BiotechCorp Stock Forecast Pattern

Backtest Legend BiotechCorpLegend BiotechCorp Price PredictionBuy or Sell Advice 

Legend BiotechCorp Forecasted Value

In the context of forecasting Legend BiotechCorp's Stock value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. Legend BiotechCorp's downside and upside margins for the forecasting period are 55.12 and 62.40, respectively. We have considered Legend BiotechCorp's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Market Value 63.62
58.76
Expected Value
62.40
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Polynomial Regression forecasting method's relative quality and the estimations of the prediction error of Legend BiotechCorp stock data series using in forecasting. Note that when a statistical model is used to represent Legend BiotechCorp stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.
AICAkaike Information Criteria120.0035
BiasArithmetic mean of the errors None
MADMean absolute deviation2.0693
MAPEMean absolute percentage error0.0363
SAESum of the absolute errors126.2277
A single variable polynomial regression model attempts to put a curve through the Legend BiotechCorp historical price points. Mathematically, assuming the independent variable is X and the dependent variable is Y, this line can be indicated as: Y = a0 + a1*X + a2*X2 + a3*X3 + ... + am*Xm

Predictive Modules for Legend BiotechCorp

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Legend BiotechCorp. Regardless of method or technology, however, to accurately forecast the stock or bond market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.
Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of Legend BiotechCorp's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy. Please use the tools below to analyze the current value of Legend BiotechCorp in the context of predictive analytics.
Hype
Prediction
LowEstimatedHigh
61.9065.5469.18
Details
Intrinsic
Valuation
LowRealHigh
57.2674.9378.57
Details
Bollinger
Band Projection (param)
LowMiddleHigh
59.2864.6469.99
Details
15 Analysts
Consensus
LowTargetHigh
64.0077.3690.00
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Legend BiotechCorp. Your research has to be compared to or analyzed against Legend BiotechCorp's peers to derive any actionable benefits. When done correctly, Legend BiotechCorp's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Legend BiotechCorp.

Other Forecasting Options for Legend BiotechCorp

For every potential investor in Legend, whether a beginner or expert, Legend BiotechCorp's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Legend Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Legend. Basic forecasting techniques help filter out the noise by identifying Legend BiotechCorp's price trends.

Legend BiotechCorp Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Legend BiotechCorp stock to make a market-neutral strategy. Peer analysis of Legend BiotechCorp could also be used in its relative valuation, which is a method of valuing Legend BiotechCorp by comparing valuation metrics with similar companies.
Kineta IncYS BiopharmaVaccitech PLC ADRValneva SE ADRVaxxinityRaytheon TechnologiesRealty Income CorpAmerican AirlinesAlcoa CorpApple IncBest BuyCitigroupSentinelOneCVS Health CorpChevron Corp
 Risk & Return  Correlation

Legend BiotechCorp Technical and Predictive Analytics

The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Legend BiotechCorp's price movements, , a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Legend BiotechCorp's current price.

Legend BiotechCorp Market Strength Events

Market strength indicators help investors to evaluate how Legend BiotechCorp stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Legend BiotechCorp shares will generate the highest return on investment. By undertsting and applying Legend BiotechCorp stock market strength indicators, traders can identify Legend BiotechCorp entry and exit signals to maximize returns.

Legend BiotechCorp Risk Indicators

The analysis of Legend BiotechCorp's basic risk indicators is one of the essential steps in helping accuretelly forecast its future price. The process involves identifying the amount of risk involved in Legend BiotechCorp's investment and either accepting that risk or mitigating it. Along with some funamental techniques of forecasting Legend BiotechCorp stock price, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential stock investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.

Legend BiotechCorp Investors Sentiment

The influence of Legend BiotechCorp's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Legend. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Legend BiotechCorp's public news can be used to forecast risks associated with an investment in Legend. The trend in average sentiment can be used to explain how an investor holding Legend can time the market purely based on public headlines and social activities around Legend BiotechCorp. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Legend BiotechCorp's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Legend BiotechCorp's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Legend BiotechCorp's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Legend BiotechCorp.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Legend BiotechCorp in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Legend BiotechCorp's short interest history, or implied volatility extrapolated from Legend BiotechCorp options trading.

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Check out Historical Fundamental Analysis of Legend BiotechCorp to cross-verify your projections. To learn how to invest in Legend Stock, please use our How to Invest in Legend BiotechCorp guide. Note that the Legend BiotechCorp information on this page should be used as a complementary analysis to other Legend BiotechCorp's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Global Correlations module to find global opportunities by holding instruments from different markets.

Complementary Tools for Legend Stock analysis

When running Legend BiotechCorp's price analysis, check to measure Legend BiotechCorp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Legend BiotechCorp is operating at the current time. Most of Legend BiotechCorp's value examination focuses on studying past and present price action to predict the probability of Legend BiotechCorp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Legend BiotechCorp's price. Additionally, you may evaluate how the addition of Legend BiotechCorp to your portfolios can decrease your overall portfolio volatility.
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Is Legend BiotechCorp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Legend BiotechCorp. If investors know Legend will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Legend BiotechCorp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(3.14) 
Revenue Per Share
0.639
Quarterly Revenue Growth
(0.12) 
Return On Assets
(0.29) 
Return On Equity
(0.96) 
The market value of Legend BiotechCorp is measured differently than its book value, which is the value of Legend that is recorded on the company's balance sheet. Investors also form their own opinion of Legend BiotechCorp's value that differs from its market value or its book value, called intrinsic value, which is Legend BiotechCorp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Legend BiotechCorp's market value can be influenced by many factors that don't directly affect Legend BiotechCorp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Legend BiotechCorp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Legend BiotechCorp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Legend BiotechCorp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party. Check out Historical Fundamental Analysis of Legend BiotechCorp to cross-verify your projections. To learn how to invest in Legend Stock, please use our How to Invest in Legend BiotechCorp guide.
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