William Blair analyst Sami Corwin has maintained their neutral stance on LEGN stock, giving a Hold rating on August 9.
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Sami Corwin has given his Hold rating due to a combination of factors related to Legend Biotech’s current market position and future prospects. While the company reported a strong revenue increase for Carvykti, surpassing both the firm’s and market expectations, the growth was largely attributed to recent market launches and capacity expansion. This indicates that while there is positive momentum, it may not be sustainable without further strategic initiatives.
Additionally, Legend Biotech’s efforts to expand Carvykti’s usage in community and regional hospital settings, as well as its plans to increase awareness among patients and physicians, are promising. However, these initiatives are still in early stages, and their impact on long-term growth remains uncertain. The company’s path to achieving its ambitious production goals also hinges on future approvals and expansions, adding an element of risk. Thus, the Hold rating reflects a balanced view of the company’s current achievements and the challenges it faces in maintaining and accelerating its growth trajectory.
Corwin covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Ultragenyx Pharmaceutical, and PTC Therapeutics. According to TipRanks, Corwin has an average return of 0.8% and a 40.76% success rate on recommended stocks.
In another report released on August 9, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $37.00 price target.