Legend Biotech ( (LEGN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Legend Biotech’s stock has experienced an upward movement primarily due to positive analyst ratings and strong confidence in its CAR-T therapy, CARVYKTI. Analysts from H.C. Wainwright and RBC Capital have maintained Buy ratings, with particular emphasis on CARVYKTI’s impressive efficacy in treating multiple myeloma. Despite some concerns about neurotoxicity, the therapy’s benefits are believed to outweigh the risks. Further bolstering the company’s outlook is its strategic partnership with Johnson & Johnson and its ability to navigate legislative challenges in China. Although RBC Capital has adjusted its price target due to market conditions, it maintains a positive stance on Legend Biotech’s future prospects.
More about Legend Biotech
YTD Price Performance: -5.96%
Average Trading Volume: 1,474,005
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $6.02B
For further insights into LEGN stock on TipRanks’ Stock Analysis page.
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