Strong Buy Recommendation for Legend Biotech Driven by Market Position and Growth Potential

Analyst Yaron Werber of TD Cowen reiterated a Buy rating on Legend Biotech, retaining the price target of $62.00.

Yaron Werber has given his Buy rating due to a combination of factors including Legend Biotech’s strong market position and growth potential. The company has demonstrated robust demand for Carvykti, particularly in earlier lines of treatment, and has effectively addressed previous supply constraints with increased manufacturing capacity.
Additionally, Legend Biotech’s strategic focus on expanding community engagement and education about Carvykti’s benefits is expected to drive further demand. The company’s financial outlook is also promising, with a substantial cash runway extending beyond 2026 and anticipated profitability of its joint venture by the end of 2025. These factors collectively underpin Werber’s confidence in Legend Biotech’s continued success and growth trajectory.