To predict the stock price of Legend Biotech (LEGN) for the next trading week, we analyze both fundamental and technical factors.
Legend Biotech has shown strong growth driven by its product Carvykti, with Q4 revenue surpassing expectations at $186.5 million. Analysts maintain a bullish outlook, with price targets ranging from $75 to $91. The company aims for operational breakeven by 2025 and profitability by 2026, supported by substantial cash reserves.
The stock shows a neutral RSI of 57.02, indicating it's not overbought or oversold. The MACD is slightly positive, suggesting mild upward momentum. Fibonacci levels indicate resistance at $38 and $39.42, with support at $33.41. Recent price action shows a close at $37.36, up 0.79%.
Given the strong earnings and bullish analyst sentiment, Legend Biotech's stock is expected to rise. The target price for the next trading week is $39.20, suggesting a Buy recommendation.
The price of LEGN is predicted to go up -7.41%, based on the high correlation periods with HAL. The similarity of these two price pattern on the periods is 92.66%.
LEGN
HAL
Piper Sandler
2024-12-30
Price Target
$78
Upside
+138.02%
Redburn Atlantic
2024-10-08
Price Target
$86
Upside
+78.94%