H.C. Wainwright Reaffirms Buy Rating for Legend Biotech (LEGN)

Legend Biotech Corp. (NASDAQ:LEGN) is one of the 10 best biotech stocks with highest upside potential.

On April 20, H.C. Wainwright maintained its Buy rating for Legend Biotech Corp. (NASDAQ:LEGN). The firm has projected a target price of $50, which yields more than 109% potential upside for investors. It highlighted the company’s CAR-T therapies and attributed its bullish view of the stock to the ongoing progress related to those programs. It noted that the trial data for vivo CD19/CD20 CAR-T will be revealed soon.

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The firm also reflected on the management’s strong indication of critical medical meeting readouts, which appear to be imminent in the foreseeable future. These relate to the preliminary dosages given to patients during last summer, leading to 6 months of data for patients who have undergone the longest treatments.

H.C. Wainwright also acknowledged the continued strength shown by the CARVYKTI electronic order book during the entirety of the first quarter. With favorable operational momentum witnessed from January through April, the firm labelled the IQVIA prescription data oscillation as mere external noise. Such momentum is in line with the company’s 64% topline growth, exceeding $1 billion during the prior 12 months.

Legend Biotech Corp. (NASDAQ:LEGN) is a commercial-stage biopharmaceutical company that develops innovative therapies. Being an end-to-end cell therapy company, they focus on medication for serious diseases such as hematologic malignancies and solid tumors.

While we acknowledge the risk and potential of LEGN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LEGN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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