Cantor Fitzgerald and RBC Capital Stay Bullish on Legend Biotech (LEGN)

Core Viewpoint - Legend Biotech Corporation (NASDAQ:LEGN) is recognized by Wall Street analysts as a stock poised for recovery, with a significant growth forecast for its cancer therapy, Carvykti, expected to reach nearly $2 billion in sales by 2025 [1][2]. Group 1: Company Performance and Projections - Cantor Fitzgerald maintains an Overweight rating on Legend Biotech with a price target of $74, citing concerns about competition but highlighting the expected 100% year-over-year growth of Carvykti [1]. - Johnson & Johnson, a partner of Legend Biotech, projects peak sales for Carvykti to exceed $5 billion in the expanding multiple myeloma market, reaffirmed during a recent analyst meeting [2]. - Cantor Fitzgerald estimates that Legend Biotech is trading at an enterprise value to current sales multiple of approximately 3x and a peak sales multiple of about 1x, positioning it as one of the best values in biotech due to strong revenue growth prospects and anticipated profitability by 2026 [3]. Group 2: Analyst Ratings and Recommendations - RBC Capital also reiterated an Outperform rating on Legend Biotech with a price target of $74, emphasizing Carvykti's potential as a highly effective treatment option and recommending stock purchases during market weaknesses [4]. - The overall sentiment from analysts indicates a bullish outlook on Legend Biotech, with expectations for continued growth and profitability in the near future [3][4].