Legend Biotech Corp Stock Market Value

LEGN Stock  USD 50.26  1.42  2.91%   
Legend Biotech's market value is the price at which a share of Legend Biotech trades on a public exchange. It measures the collective expectations of Legend Biotech Corp investors about its performance. Legend Biotech is selling at 50.26 as of the 11th of October 2024; that is 2.91% increase since the beginning of the trading day. The stock's open price was 48.84.
With this module, you can estimate the performance of a buy and hold strategy of Legend Biotech Corp and determine expected loss or profit from investing in Legend Biotech over a given investment horizon. Check out Legend Biotech Correlation, Legend Biotech Volatility and Legend Biotech Alpha and Beta module to complement your research on Legend Biotech.
Symbol

Legend Biotech Corp Price To Book Ratio

Is Biotechnology space 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 Biotech. 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 Biotech listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(1.54)
Revenue Per Share
2.505
Quarterly Revenue Growth
1.544
Return On Assets
(0.13)
Return On Equity
(0.22)
The market value of Legend Biotech Corp 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 Biotech's value that differs from its market value or its book value, called intrinsic value, which is Legend Biotech'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 Biotech's market value can be influenced by many factors that don't directly affect Legend Biotech'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 Biotech's value and its price as these two are different measures arrived at by different means. Investors typically determine if Legend Biotech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Legend Biotech'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.

Legend Biotech 'What if' Analysis

In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Legend Biotech's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Legend Biotech.
0.00
03/15/2024
No Change 0.00  0.0 
In 6 months and 29 days
10/11/2024
0.00
If you would invest  0.00  in Legend Biotech on March 15, 2024 and sell it all today you would earn a total of 0.00 from holding Legend Biotech Corp or generate 0.0% return on investment in Legend Biotech over 210 days. Legend Biotech is related to or competes with Revolution Medicines, Black Diamond, Werewolf Therapeutics, and AnaptysBio. Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discove... More

Legend Biotech Upside/Downside Indicators

Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Legend Biotech's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Legend Biotech Corp upside and downside potential and time the market with a certain degree of confidence.

Legend Biotech Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Legend Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Legend Biotech's standard deviation. In reality, there are many statistical measures that can use Legend Biotech historical prices to predict the future Legend Biotech's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Legend Biotech'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.
Hype
Prediction
LowEstimatedHigh
47.0349.9152.79
Details
Intrinsic
Valuation
LowRealHigh
45.2357.9160.79
Details
Naive
Forecast
LowNextHigh
49.9452.8255.69
Details
21 Analysts
Consensus
LowTargetHigh
80.4188.3698.08
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Legend Biotech. Your research has to be compared to or analyzed against Legend Biotech's peers to derive any actionable benefits. When done correctly, Legend Biotech'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 Biotech Corp.

Legend Biotech Corp Backtested Returns

Legend Biotech Corp has Sharpe Ratio of -0.024, which conveys that the firm had a -0.024% return per unit of risk over the last 3 months. Legend Biotech exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Legend Biotech's Downside Deviation of 3.12, risk adjusted performance of 0.0437, and Mean Deviation of 2.24 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 1.21, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Legend Biotech will likely underperform. At this point, Legend Biotech Corp has a negative expected return of -0.0698%. Please make sure to verify Legend Biotech's jensen alpha, semi variance, day typical price, as well as the relationship between the maximum drawdown and accumulation distribution , to decide if Legend Biotech Corp performance from the past will be repeated at some point in the near future.

Auto-correlation

    
  -0.05  

Very weak reverse predictability

Legend Biotech Corp has very weak reverse predictability. Overlapping area represents the amount of predictability between Legend Biotech time series from 15th of March 2024 to 28th of June 2024 and 28th of June 2024 to 11th of October 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Legend Biotech Corp price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Legend Biotech price fluctuation can be explain by its past prices.
Correlation Coefficient-0.05
Spearman Rank Test0.18
Residual Average0.0
Price Variance20.69

Legend Biotech Corp lagged returns against current returns

Autocorrelation, which is Legend Biotech stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Legend Biotech's stock expected returns. We can calculate the autocorrelation of Legend Biotech returns to help us make a trade decision. For example, suppose you find that Legend Biotech has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
   Current and Lagged Values   
       Timeline  

Legend Biotech regressed lagged prices vs. current prices

Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Legend Biotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Legend Biotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Legend Biotech stock over time.
   Current vs Lagged Prices   
       Timeline  

Legend Biotech Lagged Returns

When evaluating Legend Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Legend Biotech stock have on its future price. Legend Biotech autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Legend Biotech autocorrelation shows the relationship between Legend Biotech stock current value and its past values and can show if there is a momentum factor associated with investing in Legend Biotech Corp.
   Regressed Prices   
       Timeline  

Pair Trading with Legend Biotech

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Legend Biotech position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Legend Biotech will appreciate offsetting losses from the drop in the long position's value.

Moving together with Legend Stock

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Moving against Legend Stock

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The ability to find closely correlated positions to Legend Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Legend Biotech when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Legend Biotech - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Legend Biotech Corp to buy it.
The correlation of Legend Biotech is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Legend Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Legend Biotech Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Legend Biotech can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Legend Biotech Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Legend Biotech's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Legend Biotech Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Legend Biotech Corp Stock:
Check out Legend Biotech Correlation, Legend Biotech Volatility and Legend Biotech Alpha and Beta module to complement your research on Legend Biotech.
You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Legend Biotech technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Legend Biotech technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Legend Biotech trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...