Legend Biotech (LEGN) Gets Bullish Ratings, PT Hike, Soars 18%

Legend Biotech Corp. (NASDAQ:LEGN) is one of the 10 Stocks With Double-Digit Returns.

Legend Biotech soared for a 5th straight day on Monday, climbing 18.42 percent to close at $25.07 apiece, as investors took heart from two investment firms’ reiteration of bullish coverage for its stock.

In a market note, RBC Capital reaffirmed its “outperform” rating and $62 price target on shares of Legend Biotech Corp. (NASDAQ:LEGN), while HC Wainwright reiterated its “buy” recommendation and $50 price target.

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RBC Capital said that its coverage reflected its optimism following Eli Lilly’s acquisition of Kelonia for $3.25 billion, which highlighted the growing interest in the CAR-T therapy market.

Kelonia is a biotechnology company focusing on the development of advanced cancer treatments. Both the latter and Legend Biotech Corp. (NASDAQ:LEGN) specialize in CAR-T therapy, a cutting-edge treatment that reprograms immune cells so those cells can find and kill cancer.

Meanwhile, HC Wainwright said that its coverage was based on its confidence in the in vivo CD19/CD20 CAR-T data, which is expected to be announced at the 2026 ASCO Annual Meeting in Chicago, Illinois, from May 29 to June 2, 2026.

Legend Biotech Corp. (NASDAQ:LEGN) signaled that a “major medical meeting” readout is imminent.

In other news, the firm announced dismal earnings performance last year, with net losses widening by 68 percent to $296.8 million from $177 million in 2024. Total revenues, however, surged by 64 percent to $1.029 billion from $627.3 million year-on-year.

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