Legend Biotech price target raised to $65 from $61 at JPMorgan

JPMorgan analyst Jessica Fye raised the firm’s price target on Legend Biotech to $65 from $61 and keeps an Overweight rating on the shares. The analyst sees a "dynamic period ahead" for a group of biotechnology stocks with market caps up to $10B for "reasons ranging from major clinical readouts to key NDA submissions to a strategic separation." For Legend, she sees a "top line poised for strong growth driven by a best-in-class" CAR-T cell product with "unprecedented efficacy" in relapsed/refractory multiple myeloma.