Legend Biotech (NASDAQ:LEGN) Releases Earnings Results, Beats Estimates By $0.22 EPS

Legend Biotech (NASDAQ:LEGN) posted its earnings results on Tuesday. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.22, Briefing.com reports. The firm had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. Legend Biotech had a negative return on equity of 29.22% and a negative net margin of 66.92%. Legend Biotech’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share.

Legend Biotech Price Performance

Shares of LEGN opened at $39.19 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.78 and a current ratio of 4.84. Legend Biotech has a fifty-two week low of $38.60 and a fifty-two week high of $70.13. The firm has a 50-day simple moving average of $46.49 and a 200-day simple moving average of $48.34. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of -41.42 and a beta of 0.11.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a report on Tuesday, October 29th. Scotiabank raised their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a report on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a report on Wednesday. Finally, Redburn Atlantic began coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price on the stock. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $81.46.

Legend Biotech Company Profile

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).