William Blair analyst Sami Corwin has maintained their neutral stance on LEGN stock, giving a Hold rating today.
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Sami Corwin’s rating is based on Legend Biotech’s recent performance and strategic developments. The company’s Carvykti revenue showed a notable increase, primarily driven by its adoption in third-line settings, although this growth was slightly below the analyst’s expectations. The expansion of outpatient administration, facilitated by changes in REMS requirements, has also contributed positively to the company’s performance.
Legend Biotech has addressed previous manufacturing capacity issues, now meeting market demand and planning further expansion to increase dose capacity significantly by 2026. However, despite these positive developments, the updated Carvykti label, which now includes new safety warnings, presents potential risks. These factors combined have led Sami Corwin to assign a Hold rating, reflecting a balanced view of the company’s growth prospects and associated risks.
Corwin covers the Healthcare sector, focusing on stocks such as Solid Biosciences, Cabaletta Bio, and uniQure. According to TipRanks, Corwin has an average return of 25.7% and a 54.82% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $33.00 price target.