Legend Biotech (LEGN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Yaron Werber from TD Cowen maintained a Buy rating on the stock and has a $62.00 price target.
Yaron Werber has given his Buy rating due to a combination of factors that highlight Legend Biotech’s promising outlook. The company has demonstrated a strong sales ramp for its Carvykti product, driven by high demand, particularly in earlier treatment lines. This demand is supported by the expansion of commercial supply capacity, with new facilities coming online and an expected increase in annualized doses by the end of 2025 and 2027.
Furthermore, Legend Biotech’s strategic focus on outpatient usage, which now exceeds 50%, provides a competitive edge that enhances hospital support for increased demand. The company’s robust pipeline in oncology and autoimmune sectors, alongside a substantial cash runway that extends into profitability by 2026, reinforces confidence in its market position. These factors collectively underpin Werber’s positive outlook on the stock’s risk/reward profile, leading to the Buy rating.
Werber covers the Healthcare sector, focusing on stocks such as Genmab, Springworks Therapeutics, and Exelixis. According to TipRanks, Werber has an average return of 7.0% and a 49.87% success rate on recommended stocks.
In another report released today, Citi also maintained a Buy rating on the stock with a $95.00 price target.
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