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Cantor Fitzgerald and RBC Capital Stay Bullish on Legend Biotech (LEGN)

Legend Biotech Corporation (NASDAQ:LEGN) is one of the 12 Stocks that Will Bounce Back According to Wall Street Analysts. On December 17, Cantor Fitzgerald maintained its Overweight rating on Legend Biotech Corporation (NASDAQ:LEGN) with a price target of $74. The firm said the stock has come under pressure because of concerns about competition, even though the company’s cancer therapy, Carvykti, is still on track to grow around 100% year-over-year to reach nearly $2 billion in sales in 2025.

Legend Biotech Corporation’s (NASDAQ:LEGN) partner, Johnson & Johnson (NYSE:JNJ), has maintained its outlook for Carvykti to achieve peak sales over $5 billion in the growing multiple myeloma market. This forecast was reaffirmed at a post-American Society of Hematology meeting with analysts.

According to estimates by Cantor Fitzgerald, Legend Biotech Corporation (NASDAQ:LEGN) is trading at an enterprise value to current sales multiple of roughly 3x and an enterprise value to peak sales multiple of approximately 1x. The research firm sees Legend Biotech Corporation (NASDAQ:LEGN) as “one of the best values in biotech” because of its prospects for strong revenue growth and expectations for the company to become profitable in 2026.

Earlier, on December 9, RBC Capital also reiterated its Outperform rating on Legend Biotech Corporation (NASDAQ:LEGN) with a price target of $74. The firm believes that Carvykti remains “potentially the highest efficacy option” with “one-and-done convenience.” RBC Capital recommends buying the stock during periods of weakness based on its expectations for near-term profitability and continued growth in 2026.

Legend Biotech Corporation (NASDAQ:LEGN) is a global biotechnology and cell therapy company focused on discovering, developing, and commercializing novel cell therapies for cancer and other serious diseases.

While we acknowledge the potential of LEGN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LEGN and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Best US Penny Stocks to Buy and 10 Best New Penny Stocks to Invest In.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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