Piper Sandler lowered the firm’s Carvykti revenue forecast to $290M from $335M in Q4 and to $1.63B from $1.75B in 2025 as Legend Biotech (LEGN) and Johnson & Johnson (JNJ) work to build supply. Carvykti “remains the Gold Standard with demand far outpacing supply,” the analyst tells investors in a research note. The firm says Legend and J&J are working to increase supply to 10,000 autologous doses by the end of 2025. Piper reiterates an Overweight rating on Legend Biotech with a $78 price target.
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