RBC Capital raised the firm’s price target on Legend Biotech (LEGN) to $77 from $75 and keeps an Outperform rating on the shares. The company’s Q2 earnings beat reflects the continued strong demand and successful manufacturing for Carvykti that can drive sustainable growth for the franchise, the analyst tells investors in a research note. RBC adds that it continues to expect growth in the U.S., with further acceleration ex-US, and sees a number of tailwinds for the company, including pull through of 5-year OS data.
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