Buy Rating for Legend Biotech Driven by Carvykti’s Market Position and Efficacy

Analyst Kostas Biliouris from BMO Capital maintained a Buy rating on Legend Biotech (LEGN – Research Report) and keeping the price target at $90.00.

Kostas Biliouris has given his Buy rating due to a combination of factors surrounding Legend Biotech’s Carvykti product. The analyst emphasizes Carvykti’s strong positioning in the market, particularly its best-in-class status among BCMA CAR-T therapies. The product’s unique characteristics, such as its ability to be administered entirely on an outpatient basis at major academic centers, enhance its appeal to both physicians and patients.
Furthermore, Carvykti’s promising cure rates and improved outcomes in various lines of treatment contribute to its competitive advantage. The reduction in Parkinsonism rates and the ease of implementing ALC-based steroid protocols further bolster its standing. Additionally, the analyst notes that despite potential competition from other therapies like JNJ-5322, Carvykti’s established efficacy and market presence make it a compelling choice for broader use in earlier lines of treatment. These factors collectively support the Buy rating for Legend Biotech’s stock.