Legend Biotech price target raised to $90 from $79 at BMO Capital

BMO Capital analyst Kostas Biliouris raised the firm’s price target on Legend Biotech (LEGN) to $90 from $79 and keeps an Outperform rating on the shares. The stock remains the firm’s "top pick", mainly due to Carvykti’s best-in-class profile in MM, significant growth potential, and its partnership with J&J (JNJ), the analyst tells investors in a research note. Scaling in manufacturing is the only limiting step, but the management’s commitment and efforts towards manufacturing improvement, along with positive key opinion leader feedback on manufacturing, suggest that manufacturing roadblocks can be overcome, BMO added.