Legend Biotech Corporation (LEGN) is an Outperform on Multiple Myeloma Treatment CARVYKTI Prospects

Core Insights - Legend Biotech Corp (NASDAQ:LEGN) is recognized as a strong investment opportunity by Wall Street analysts, with RBC Capital maintaining an Outperform rating and a price target of $74 [1][2]. Group 1: Company Performance - The company’s multiple myeloma treatment, CARVYKTI, has shown impressive efficacy, achieving over 50 months of median progression-free survival in patients, which is significantly better than competitors [2]. - Legend Biotech has treated over 9,000 patients globally with CARVYKTI, which is currently approved for adults with relapsed or refractory multiple myeloma [2][4]. - The company has demonstrated remarkable revenue growth of 74.75% over the past 12 months, indicating strong financial performance [3]. Group 2: Market Position and Future Prospects - RBC Capital believes that the current share price does not fully reflect the company's potential to maintain market share, supported by a robust pipeline of products [3]. - The firm anticipates that Legend Biotech will continue to experience strong growth and near-term profitability due to its successful product offerings and market strategies [3].