Legend Biotech Corporation, through its subsidiaries, operates as a biopharmaceutical company that discovers, develops, manufactures, and commercializes novel cell therapies for oncology and other indications in the Unit…
FAIL · Does not pass the screen
23.40 USD
Price as of 6 Nov 2026Daily close, not a live quote
Screened 2026-11-06 · the tape above runs as of 20:08 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price23.40 USD at the 6 Nov 2026 close
Our value readUndervalued vs our fair value, as of 6 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.11, read 2026-11-02
Ethical does not pass the values gate
Price23.40 USD
Fair value35.55
Ethical score70.0/100
Value readUndervaluedas of 6 Nov 2026
Our investment reviews on this name
2026-10-28Read Markup19.01+23.1% to today ✓Accumulation gives way to Markup first Markup read since September
2026-10-21Read Accumulation19.01+23.1% to today ✓Markdown gives way to Accumulation
2026-10-02Read Markdown19.32+21.1% to today Markup gives way to Markdown after a 9% slide in 4 weeks
2026-09-04Read Markup21.30+9.9% to today ✓Distribution gives way to Markup after a 15% rise in 4 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Legend Biotech Corporation holds its Markup at $23.40. The statistical read favours the buyers, held for 48 days.
As held on the ledger · 2026-11-06
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 48 days
Price at the screen
$23.40
Valuation
N/A trailing · 21.69 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.55
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
23.86%
Below 33%
Interest-bearing debt is just 23.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.29%
Below 33%
Cash held in interest-bearing accounts and securities is 0.3% of assets, under the one-third limit.
Pass
Receivables
52.78%
Below 49%
Money owed to the company is 52.8% of assets, above the 49% limit.
Fail
Revenue purity
3.90%
Below 5%
Only 3.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Legend Biotech's business is fine, but its receivables are about 53% of its assets, just over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
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Today LEGN does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 6 Nov 2026: it trades at roughly a 37% discount to our $35.55 fair value, 51.90% revenue growth.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. A 34.2% discount to the base estimate.
Where our models see it going: fair-value estimate $35.55, with a range of $21.60 to $40.88, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Cell Therapy Growth Story Still Burning Cash
Picture a hospital ward where one new cell therapy can rewrite outcomes for blood cancer patients. Legend Biotech is scaling that kind of treatment, with revenue already jumping 56 percent a year. The shares sit at a steep discount to our fair value, yet the business remains loss-making and carries an unknown competitive edge.
Forward earnings sit on a reasonable 20.3 times multiple, but profit margins of minus 22 percent and a negative 25 percent return on equity show the company is still investing heavily just to reach commercial scale. Analyst targets cluster higher, yet those forecasts rest on successful launches and steady reimbursement, none of which is guaranteed.
Risk sits high because the firm has yet to prove durable profits or a defendable position against larger rivals. Currency moves, trial setbacks and funding needs could all widen the gap between promise and delivery. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
LEGN trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-07Markup$23.40+3.8%Entry 14
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-06Markup$22.54-1.0%Entry 13
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-05Markup$22.77+6.0%Entry 12
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 6.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-04Markup$21.48-0.7%Entry 11
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03Markup$21.63+13.8%Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 13.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markup · changed$19.01+0.0%Entry 9
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter.
2026-10-14Markdown$18.62-3.6%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55. Insiders have been net sellers over the past quarter.
2026-10-02Markdown · changed$19.32-9.3%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 9.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55.
2026-09-04Markup · changed$21.30+14.8%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 14.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (15 analysts) rates it buy, with a mean price target of $55.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
