Legend Biotech (LEGN) to Release Quarterly Earnings on Tuesday

Legend Biotech (NASDAQ:LEGN) will be issuing its quarterly earnings data before the market opens on Tuesday, November 12th. Analysts expect the company to announce earnings of ($0.56) per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.49. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $125.25 million. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. The business’s revenue was up 154.4% on a year-over-year basis. On average, analysts expect Legend Biotech to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Legend Biotech Price Performance

Shares of NASDAQ LEGN opened at $40.03 on Friday. Legend Biotech has a twelve month low of $38.60 and a twelve month high of $70.13. The company has a 50 day moving average of $47.55 and a 200 day moving average of $48.44. The company has a quick ratio of 4.78, a current ratio of 4.84 and a debt-to-equity ratio of 0.25. The firm has a market cap of $7.30 billion, a P/E ratio of -51.32 and a beta of 0.11.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LEGN. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Tuesday, October 29th. TD Cowen cut their price objective on Legend Biotech from $71.00 to $67.00 and set a “buy” rating for the company in a report on Monday, July 15th. Redburn Atlantic began coverage on Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price on the stock. Scotiabank boosted their price target on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Monday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $81.46.

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).