Legend Biotech price target lowered to $73 from $86 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Legend Biotech to $73 from $86 and keeps a Buy rating on the shares. The firm awaits signs of more predictable and stable growth to “become even more bullish” on Carvykti uptake near-term. Legend has noted that the recent stagnation in revenue growth can be attributed to the timing of order billing as well as due to the comparability runs that are necessary to migrate manufacturing processes to new facilities, the analyst tells investors in a research note.