Legend Biotech, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on the stock and has a $50.00 price target.
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Mitchell Kapoor has given his Buy rating due to a combination of factors, starting with what he views as a stark valuation gap between Legend Biotech and recent transactions in the BCMA CAR-T space. He notes that Gilead is paying a substantial premium for a pre-commercial BCMA CAR-T asset, while Legend, which already co-markets CARVYKTI and generates roughly $2B in annual sales, trades at a markedly lower enterprise value that does not reflect its established commercial position.
Mitchell Kapoor’s rating is based on his view that Legend’s commercial risks are far lower than those of earlier-stage peers, given its validated global supply chain, strong physician adoption, and ongoing expansion into earlier multiple myeloma treatment lines. He underscores that his DCF-based valuation, which incorporates CARVYKTI growth and risk-adjusted contributions from pipeline assets LB1908 and LB2102, supports an enterprise value significantly above the current market capitalization, leading him to reaffirm a Buy rating and a $50 per share 12‑month target.