Legend Biotech ( (LEGN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Legend Biotech shares moved higher after analysts pointed to stronger-than-expected sales of its flagship therapy Carvykti and a clearer path to profitability by 2026, arguing that these fundamentals leave limited downside and attractive upside. The stock has been trading near all-time lows as investors worried about potential competition from Anito-cel and Dara-Tec, but analysts now say those concerns look overdone, suggesting the current valuation underestimates Carvykti’s long-term strength and skews the risk/reward in favor of further gains.
More about Legend Biotech
YTD Price Performance: -3.50%
Average Trading Volume: 1,916,741
Technical Sentiment Signal: Sell
Current Market Cap: $3.75B
For further insights into LEGN stock on TipRanks’ Stock Analysis page.
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