RBC Capital analyst Leonid Timashev lowered the price target on Legend Biotech Corp. (NASDAQ: LEGN) to $62.00 (from $66.00) while maintaining an Outperform rating.

The analyst commented: "We Think The Fundamentals Of The Business Remain Sound And Ongoing Execution Underappreciated; This morning LEGN reported 4Q25 earnings and we had a chance to catch up with the mgmt. team. We see a significant disconnect between the share price and the fundamentals of the business - mgmt.'s execution on many aspects of the Carvykti opportunity has been strong, with impressive OS data, improving real-world safety, expanding manufacturing, and consistent double digit revenue growth. However, shares have trended down, with sentiment poor given perceptions of limited catalysts as well as competitive and market concerns. We take the side of fundamentals here, as we think shares should rebound in '26 as execution remains strong and threats fail to materialize, and still see profitability, $2.8B in '26 sales potential, and a >$8B long-term outlook. Tgt to $62 on model updates."