Johnson & Johnson’s (JNJ) updated Majes-TEC-3 data showed competitive pressure in Relapsed/Refractory Multiple Myeloma, but the market reaction appears excessive, RBC Capital tells investors in a research note. Carvykti still offers best-in-class efficacy with one-time dosing and room for expansion into earlier lines and community settings, supporting a constructive view on Legend Biotech (LEGN), especially on weakness, the firm says. RBC has an Outperform rating and $74 price target on shares of Legend Biotech.
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