H.C. Wainwright analyst Mitchell Kapoor has reiterated their bullish stance on LEGN stock, giving a Buy rating on November 13.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Mitchell Kapoor has given his Buy rating due to a combination of factors including the strong competitive position of Legend Biotech’s CARVYKTI therapy in the BCMA CAR-T space. Despite recent market concerns sparked by Kelonia Therapeutics’ early-stage data, CARVYKTI’s established presence and proven real-world safety and efficacy provide it with a significant advantage over emerging competitors.
CARVYKTI has treated over 9,000 patients globally, offering unmatched safety and efficacy data compared to early-stage programs. The therapy’s consistent performance, including high rates of complete responses and durable remissions, makes it difficult for new entrants to surpass. Furthermore, upcoming data from CARTITUDE-5 and -6 trials could expand CARVYKTI’s use into earlier treatment lines, reinforcing its market position and widening its competitive moat. These factors collectively underpin Kapoor’s confidence in maintaining a Buy rating for Legend Biotech.
In another report released on November 13, Truist Financial also reiterated a Buy rating on the stock with a $70.00 price target.