Legend Biotech (NASDAQ:LEGN) Issues Earnings Results

Legend Biotech (NASDAQ:LEGN) issued its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.19, Zacks reports. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%.

Legend Biotech Price Performance

LEGN opened at $34.03 on Tuesday. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -35.82 and a beta of 0.19. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. Legend Biotech has a 12-month low of $30.17 and a 12-month high of $69.24. The business’s fifty day simple moving average is $35.38 and its 200-day simple moving average is $41.28.

Analyst Ratings Changes

LEGN has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday, January 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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).