William Blair Maintains Hold Rating on Legend Biotech (LEGN) Despite Carvykti Label Safety Concerns

Core Insights - Legend Biotech Corporation (NASDAQ:LEGN) is considered one of the most oversold biotech stocks, with a Hold rating reiterated by William Blair analyst Sami Corwin, highlighting the revenue growth of its product Carvykti, which has been accepted in third-line settings, although this growth was slightly below analyst expectations [1][2] Company Performance - The company has addressed previous manufacturing capacity concerns and is currently meeting market demand, with plans for further expansion to significantly increase dosing capacity by 2026 [2] - In its third-quarter earnings report for 2025, Legend Biotech reported earnings per share of -$0.05, which was lower than the expected -$0.044, and revenue of $272.33 million, falling short of the anticipated $274.72 million [3] Product Development - Carvykti's amended label now includes new safety warnings, which may present potential issues for the company despite its recent revenue growth [2] - Legend Biotech is a clinical-stage company focused on developing, discovering, manufacturing, and commercializing novel therapies for oncology and other indications [4]