In a report released on February 14, Kostas Biliouris from BMO Capital maintained a Buy rating on Legend Biotech (LEGN – Research Report), with a price target of $90.00.
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Kostas Biliouris’s rating is based on several positive developments related to Legend Biotech’s Carvykti therapy. The recent TANDEM data indicates that prophylactic dexamethasone can significantly reduce the incidence of adverse effects, such as neurotoxicity, while improving overall survival rates. This improvement in the safety profile makes Carvykti more appealing to investors and healthcare providers, potentially leading to wider adoption in medical centers.
Furthermore, the ongoing expansion of Carvykti’s approvals into earlier treatment lines and international markets is expected to drive growth. The diverse pipeline of Legend Biotech provides additional opportunities for future development and value creation. These factors contribute to the stock being perceived as undervalued, supporting a Buy rating from BMO Capital.
According to TipRanks, Biliouris is an analyst with an average return of -8.9% and a 33.67% success rate. Biliouris covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Legend Biotech, and BridgeBio Pharma.