BMO Capital analyst Kostas Biliouris has maintained their bullish stance on LEGN stock, giving a Buy rating today.
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Kostas Biliouris has given his Buy rating due to a combination of factors that highlight the potential for growth in Legend Biotech’s performance. The analysis of IQVIA sales data indicates that Carvykti’s worldwide sales for the second quarter of 2025 are projected to be between $405 million and $429 million, which aligns closely with the analyst consensus. This projection suggests a significant quarter-over-quarter growth, driven by factors such as ex-US expansion and a price increase in the US.
Furthermore, the anticipated increase in demand for Carvykti in the second half of the year is expected to help Legend Biotech meet or exceed the full-year 2025 consensus of approximately $1.9 billion. The removal of REMS from Carvykti’s label and its impressive cure rate in later lines of therapy are likely to accelerate its uptake. Additionally, the expansion of commercial production capacity is expected to support long-term manufacturing efficiency. These elements, combined with the company’s diverse pipeline and continuous expansion efforts, underpin Biliouris’s positive outlook on Legend Biotech.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $75.00 price target.
LEGN’s price has also changed slightly for the past six months – from $33.560 to $35.870, which is a 6.88% increase.