H.C. Wainwright notes that Legend Biotech (LEGN) partner Janssen, a division of Johnson & Johnson (JNJ), reported Q1 aggregate revenues for Carvykti that implied a 1% quarter-over-quarter contraction following 5% quarter-over-quarter growth recorded from Q3 to Q4. However, the flat sales in Q were “not alarming to us” as the firm expects a return to growth, with substantial growth in the second half of 2024 compared to the first half, says the analyst, who reiterates a Buy rating and $87 price target on Legend shares.
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