5 Most Promising Healthcare Stocks According to Analysts

In this article, we discuss the 5 most promising healthcare stocks according to analysts. To read the detailed overview of the healthcare sector, go directly to the 13 Most Promising Healthcare Stocks According to Analysts.

5. Legend Biotech Corporation (NASDAQ:LEGN)

Average Analyst Price Target Upside: 41.24%

Average Analyst Price Target: $87.64

Legend Biotech Corporation (NASDAQ:LEGN) is a New Jersey-based global, commercial-stage biotechnology company that works on the development, manufacturing, and commercialization of novel therapies for the treatment of various diseases.

On November 20, Legend Biotech Corporation (NASDAQ:LEGN) posted its Q3 GAAP EPS of -$0.17, surpassing the estimates by $0.14. The revenue of $96.01 million grew 250.9% year-over-year.

Baron Funds commented on Legend Biotech Corporation (NASDAQ:LEGN) in its third quarter 2023 investor letter. Here is what it said:

“During the quarter, we also initiated an investment in Legend Biotech Corporation (NASDAQ:LEGN), a biotechnology company dedicated to researching, manufacturing, and distributing cellular therapies for cancers. Legend’s lead product is called Carvykti, which is now in the midst of a commercial launch for the treatment of multiple myeloma patients who have second line or more advanced disease. Demand significantly outstrips supply in this approximately 60,000 patient opportunity, as Carvykti has shown best-in-class clinical response rates and offers patients a potential curative one-and-done treatment for their cancer. Partner Johnson & Johnson has already invested about $1 billion into making this cellular therapy possible and investments are expected to continue as the therapy is scaled to what could be a $10 billion to $20 billion revenue opportunity. Given this is a niche market with limited competition, we expect continued strong financial growth from Legend.”