Legend Biotech price target lowered to $71 from $88 at Truist

Truist lowered the firm’s price target on Legend Biotech (LEGN) to $71 from $88 and keeps a Buy rating on the shares after its Q1 results. Carvykti sales rose 10% q/q, with U.S. growth modest at 5%, and the firm notes that the more robust acceleration it had hoped for is now likely to come in the second half of the year vs. Q2 previously, the analyst tells investors in a research note.