RBC Capital Defends Legend (LEGN) For Second Day in a Row As Stock Continues to Push Lower

RBC Capital analyst Leonid Timashev reiterated an Outperform rating and $74.00 price target on Legend Biotech Corp. (NASDAQ: LEGN).

The analyst comments "Today we had a chance to listen to JNJ's ph.III Majes-TEC-3 trial data update of teclistamab (BCMAxCD3 bispecific) plus daratumumab vs DPd/DVd in 587 patients with 1-3 prior LOTs including a PI and lenalidomide and RRMM. While this ASH highlighted multiple competitive threats (anito- cel, tec+dara), we think the reaction is overdone, as Carvykti remains potentially the highest efficacy option, with one-and-done convenience, continued growth and penetration into early lines and the community setting, and we would be buyers on weakness as we expect near-term profitability for the company and further 2026 growth."

For an analyst ratings summary and ratings history on Legend Biotech Corp. click here. For more ratings news on Legend Biotech Corp. click here.

Shares of Legend Biotech Corp. closed at $26.12 yesterday.

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