H.C. Wainwright Maintains a Buy on Legend Biotech (LEGN) With a $75 Price Target

Legend Biotech Corporation (NASDAQ:LEGN) is one of the 13 Best Pharma Stocks to Buy According to Wall Street Analysts. On July 2, analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Legend Biotech Corporation (NASDAQ:LEGN) with a $75.00 price target.

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A laboratory with workers in masks and lab coats focused on analyzing cell therapies.

The analyst highlighted the company’s promising outlook, supported by its CARVYKTI. Another factor suggesting the treatment’s favorable risk-benefit profile is the FDA approval of a supplemental BLA for CARVYKTI that eliminates the need for a risk evaluation and mitigation strategy.

The analyst expects this factor, coupled with the updated monitoring requirements, to expedite the launch of CARVYKTI in the US market. In addition, the extensive experience of physicians with CARVYKTI, despite the recommendation by the European Medicines Agency to include warnings regarding potential immune-mediated enterocolitis, suggests that the product’s benefits outweigh its risks.

Legend Biotech Corporation (NASDAQ:LEGN) is a clinical-stage company that develops, discovers, manufactures, and commercializes novel therapies for oncology and other indications. It develops advanced cell therapies across an elaborate range of technology platforms. The company operates in the US, China, and other geographical segments.

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