Analyst Yaron Werber from TD Cowen reiterated a Buy rating on Legend Biotech and keeping the price target at $62.00.
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Yaron Werber has given his Buy rating due to a combination of factors that highlight Legend Biotech’s strategic positioning and future growth potential. The company is currently experiencing supply constraints with its Carvykti product, but management is confident in overcoming these limitations by the end of 2025 with planned capacity expansions at key sites. This confidence is reflected in their expectations to meet the fiscal year 2025 consensus sales target of $1.9 billion.
Additionally, Carvykti’s differentiated efficacy, including its overall survival benefit and potential for curative outcomes, positions it strongly in the market. The product has shown robust adoption in outpatient settings and has a significant lead in the market, particularly in the 2-4 line treatment areas. Furthermore, strategies to mitigate side effects and ongoing community engagement efforts bolster its market presence. These factors collectively support the Buy rating as they suggest sustained leadership in the BCMA CAR T space.
Werber covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Ultragenyx Pharmaceutical, and BioNTech SE. According to TipRanks, Werber has an average return of 16.2% and a 60.00% success rate on recommended stocks.