Legend Biotech price target raised to $85 from $82 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Legend Biotech to $85 from $82 and keeps a Buy rating on the shares. Legend’s partner, Janssen, a division of Johnson & Johnson, reported Q2 aggregate revenues for Carvykti of $117M versus $72M for last quarter, the analyst tells investors in a research note. The firm revised estimates to reflect faster than expected uptake of Carvykti. It sees strong Carvykti growth in the second half of 2023 and beyond.