Legend Biotech (NASDAQ:LEGN) Releases Quarterly Earnings Results, Beats Estimates By $0.46 EPS

Legend Biotech (NASDAQ:LEGN) announced its quarterly earnings results on Tuesday. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.46, Briefing.com reports. The company had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. Legend Biotech’s revenue was up 134.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS.

Legend Biotech Trading Up 9.3 %

LEGN opened at $37.19 on Wednesday. Legend Biotech has a twelve month low of $30.17 and a twelve month high of $69.24. The company has a fifty day moving average of $35.47 and a 200-day moving average of $41.14. The stock has a market cap of $6.79 billion, a PE ratio of -39.15 and a beta of 0.19. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27.

Wall Street Analyst Weigh In

Several equities analysts have commented on LEGN shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Finally, HC Wainwright restated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research report on Tuesday, January 21st. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $79.50.

About Legend Biotech

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).