Legend Biotech (NASDAQ:LEGN) Issues Earnings Results, Beats Expectations By $0.13 EPS

Legend Biotech (NASDAQ:LEGNGet Free Report) announced its quarterly earnings data on Monday. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.13, Briefing.com reports. The firm had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $143.24 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The company’s quarterly revenue was up 158.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.40) EPS.

Legend Biotech Stock Down 0.6 %

Shares of Legend Biotech stock opened at $42.97 on Tuesday. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of -29.03 and a beta of 0.12. The stock’s 50-day moving average is $53.80 and its 200 day moving average is $58.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.92 and a quick ratio of 6.83. Legend Biotech has a one year low of $42.08 and a one year high of $77.32.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Scotiabank upgraded shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price objective on the stock in a research note on Wednesday, April 17th. Raymond James began coverage on Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $87.00 price target on shares of Legend Biotech in a report on Thursday, May 9th. Barclays lifted their target price on shares of Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Cantor Fitzgerald began coverage on shares of Legend Biotech in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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About Legend Biotech

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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).

See Also

Earnings History for Legend Biotech (NASDAQ:LEGN)

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