RBC Capital Maintains Outperform on Legend Biotech, Raises Price Target to $86
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2024
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Should l Buy LEGN?
Source: Benzinga
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Analyst Views on LEGN
Wall Street analysts forecast LEGN stock price to rise
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 18.060
Low
48.00
Averages
68.10
High
90.00
Current: 18.060
Low
48.00
Averages
68.10
High
90.00
About LEGN
Legend Biotech Corporation is a global biopharmaceutical company. The Company is engaged in the discovery, development, manufacturing and commercialization of cell therapies for oncology and other indications. Its lead product candidate, ciltacabtagene autoleucel (cilta-cel), referred to as LCAR- B38M, is an autologous chimeric antigen receptor (CAR-T) cell therapy that targets the B-cell maturation antigen (BCMA), which is a highly expressed protein in several hematologic malignancies, including multiple myeloma (MM). In addition to cilta-cel, the Company has a portfolio of earlier-stage autologous CAR-T product candidates targeting various cancers, including Non-Hodgkins Lymphoma, acute lymphoblastic leukemia, gastric cancer, esophageal cancer, pancreatic cancer, colorectal cancer, small cell lung cancer, and non-small cell lung cancer. It is also engaged in developing an allogeneic gamma delta CAR-T product candidate and an allogeneic CAR-NK product candidate targeting BCMA for MM.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Legend Biotech Named One of the Best Revenue Growth Stocks
- Board Restructuring: Legend Biotech appointed Robin Meng, chairman of major shareholder GenScript, as a Class III director until the 2026 annual meeting, replacing Li Zhu, indicating a strategic governance adjustment to align with shareholder interests.
- Executive Departures: Directors Li Zhu and Yau Wai Man Philip resigned, with the company clarifying that these departures were not due to operational disputes, reflecting efforts to maintain management stability and bolster investor confidence.
- Sales Performance: The company reported preliminary net trade sales of approximately $555 million for its CARVYKTI multiple myeloma cell therapy for Q4 2025, demonstrating strong market demand in oncology, which could drive future revenue growth.
- Analyst Rating Changes: H.C. Wainwright lowered the price target from $60 to $50, while TD Cowen downgraded the stock from Buy to Hold with a target of $21, reflecting a cautious market outlook on the company's future performance.
See More
Deutsche Bank Downgrades Qiagen to Hold, Raises Price Target to $54
- Qiagen Rating Change: Deutsche Bank analyst Jan Koch downgraded Qiagen N.V. (NYSE:QGEN) from Buy to Hold while raising the price target from $52 to $54, indicating a cautious outlook on the company's future growth prospects.
- Legend Biotech Downgrade: TD Cowen analyst Yaron Werber downgraded Legend Biotech Corp (NASDAQ:LEGN) from Buy to Hold and significantly cut the price target to $21, reflecting concerns about its market performance, even as the stock closed at $20.76 on Wednesday.
- Crocs Rating Adjustment: Keybanc analyst Ashley Owens downgraded Crocs Inc (NASDAQ:CROX) from Overweight to Sector Weight, suggesting diminished confidence in the brand's future growth potential, with shares closing at $85.27 on Wednesday.
- Zoetis Rating Change: Piper Sandler analyst David Westenberg downgraded Zoetis Inc (NYSE:ZTS) from Overweight to Neutral and lowered the price target from $190 to $135, reflecting concerns about its profitability, despite the stock closing at $125.08 on Wednesday.
See More
Johnson & Johnson Exceeds Earnings Expectations and Raises Forecast Despite Share Decline
- Earnings Report: Johnson & Johnson reported better-than-expected earnings for the fourth quarter.
- Stock Performance: Despite the positive earnings report, the company's stock was falling.
See More
FDA Draft Guidance Boosts Arcellx (ACLX) and Legend Biotech (LEGN) Stock Prices
- FDA Guidance Impact: The U.S. FDA's draft guidance allows minimal residual disease and complete response as endpoints for accelerated approval in multiple myeloma treatments, leading to a stock price increase for Arcellx (ACLX) and Legend Biotech (LEGN), reflecting market optimism for new therapies.
- Collaborative Prospects: Legend Biotech's partnership with Johnson & Johnson (JNJ) on the Carvykti cell therapy has already incorporated MRD negativity as an endpoint in the CARTITUDE-6 trial, which analysts view as a positive development for its market performance.
- Market Competition Analysis: Analysts highlight that Arcellx's anito-cel therapy is also expected to enter the market based on MRD negativity, enhancing its competitiveness in the second to fourth-line treatment settings and increasing investment appeal in this sector.
- Investment Rating Changes: Jefferies maintains an Outperform rating on Legend Biotech with a target price of $66, noting that while the stock trades at a significant discount, the FDA guidance provides a clear positive signal for its future growth.
See More
Healthcare Sector Outperforms S&P 500 with 12.52% Gain and 3.20 Health Score
- Sector Performance: The S&P 500 healthcare sector achieved a 12.52% gain in 2025, lagging behind the broader S&P 500 index's 16.39% increase, indicating relative strength within the healthcare industry.
- Health Score Analysis: Seeking Alpha's Quant Ratings assign an average health score of 3.20 out of 5 to the healthcare sector, based on 261 stocks with market capitalizations above $2 billion, reflecting a generally healthy outlook for the sector.
- Stock Rating Distribution: Among the 261 stocks, 37 are rated Buy or higher, 213 are Neutral, and 11 are Strong Sell, showcasing varied market perceptions and investment opportunities within the healthcare sector.
- Top Stock Ratings: Ahead of the upcoming earnings season, stocks like Grail (GRAL) and Indivior PLC (INDV) received strong buy ratings of 4.97 and 4.95, respectively, indicating strong investor confidence in these companies.
See More
Initial Week of LEGN Options Trading for August 2026
Put Contract Overview: The $20.00 put contract for LEGN has a bid of 60 cents, allowing investors to buy shares at a cost basis of $19.40, which is an 8% discount from the current price of $21.71. There is a 68% chance the contract may expire worthless, offering a potential 3.00% return on cash commitment.
Call Contract Overview: The $22.50 call contract has a bid of $1.60, and if shares are purchased at $21.71 and the call is sold, it could yield an 11.01% return if exercised by August 2026. The chance of the call expiring worthless is 42%, which would provide a 7.37% additional return.
Volatility Insights: The implied volatility for the put contract is 55% and for the call contract is 53%, while the actual trailing twelve-month volatility is calculated at 46%, indicating market expectations for price fluctuations.
YieldBoost Concept: The article discusses the concept of YieldBoost, highlighting potential returns from both put and call contracts, and encourages investors to track these options and their changing odds on the Stock Options Channel website.
See More
Legend Biotech Named One of the Best Revenue Growth Stocks
- Board Restructuring: Legend Biotech appointed Robin Meng, chairman of major shareholder GenScript, as a Class III director until the 2026 annual meeting, replacing Li Zhu, indicating a strategic governance adjustment to align with shareholder interests.
- Executive Departures: Directors Li Zhu and Yau Wai Man Philip resigned, with the company clarifying that these departures were not due to operational disputes, reflecting efforts to maintain management stability and bolster investor confidence.
- Sales Performance: The company reported preliminary net trade sales of approximately $555 million for its CARVYKTI multiple myeloma cell therapy for Q4 2025, demonstrating strong market demand in oncology, which could drive future revenue growth.
- Analyst Rating Changes: H.C. Wainwright lowered the price target from $60 to $50, while TD Cowen downgraded the stock from Buy to Hold with a target of $21, reflecting a cautious market outlook on the company's future performance.
See More
Deutsche Bank Downgrades Qiagen to Hold, Raises Price Target to $54
- Qiagen Rating Change: Deutsche Bank analyst Jan Koch downgraded Qiagen N.V. (NYSE:QGEN) from Buy to Hold while raising the price target from $52 to $54, indicating a cautious outlook on the company's future growth prospects.
- Legend Biotech Downgrade: TD Cowen analyst Yaron Werber downgraded Legend Biotech Corp (NASDAQ:LEGN) from Buy to Hold and significantly cut the price target to $21, reflecting concerns about its market performance, even as the stock closed at $20.76 on Wednesday.
- Crocs Rating Adjustment: Keybanc analyst Ashley Owens downgraded Crocs Inc (NASDAQ:CROX) from Overweight to Sector Weight, suggesting diminished confidence in the brand's future growth potential, with shares closing at $85.27 on Wednesday.
- Zoetis Rating Change: Piper Sandler analyst David Westenberg downgraded Zoetis Inc (NYSE:ZTS) from Overweight to Neutral and lowered the price target from $190 to $135, reflecting concerns about its profitability, despite the stock closing at $125.08 on Wednesday.
See More
Johnson & Johnson Exceeds Earnings Expectations and Raises Forecast Despite Share Decline
- Earnings Report: Johnson & Johnson reported better-than-expected earnings for the fourth quarter.
- Stock Performance: Despite the positive earnings report, the company's stock was falling.
See More
FDA Draft Guidance Boosts Arcellx (ACLX) and Legend Biotech (LEGN) Stock Prices
- FDA Guidance Impact: The U.S. FDA's draft guidance allows minimal residual disease and complete response as endpoints for accelerated approval in multiple myeloma treatments, leading to a stock price increase for Arcellx (ACLX) and Legend Biotech (LEGN), reflecting market optimism for new therapies.
- Collaborative Prospects: Legend Biotech's partnership with Johnson & Johnson (JNJ) on the Carvykti cell therapy has already incorporated MRD negativity as an endpoint in the CARTITUDE-6 trial, which analysts view as a positive development for its market performance.
- Market Competition Analysis: Analysts highlight that Arcellx's anito-cel therapy is also expected to enter the market based on MRD negativity, enhancing its competitiveness in the second to fourth-line treatment settings and increasing investment appeal in this sector.
- Investment Rating Changes: Jefferies maintains an Outperform rating on Legend Biotech with a target price of $66, noting that while the stock trades at a significant discount, the FDA guidance provides a clear positive signal for its future growth.
See More
Healthcare Sector Outperforms S&P 500 with 12.52% Gain and 3.20 Health Score
- Sector Performance: The S&P 500 healthcare sector achieved a 12.52% gain in 2025, lagging behind the broader S&P 500 index's 16.39% increase, indicating relative strength within the healthcare industry.
- Health Score Analysis: Seeking Alpha's Quant Ratings assign an average health score of 3.20 out of 5 to the healthcare sector, based on 261 stocks with market capitalizations above $2 billion, reflecting a generally healthy outlook for the sector.
- Stock Rating Distribution: Among the 261 stocks, 37 are rated Buy or higher, 213 are Neutral, and 11 are Strong Sell, showcasing varied market perceptions and investment opportunities within the healthcare sector.
- Top Stock Ratings: Ahead of the upcoming earnings season, stocks like Grail (GRAL) and Indivior PLC (INDV) received strong buy ratings of 4.97 and 4.95, respectively, indicating strong investor confidence in these companies.
See More
Initial Week of LEGN Options Trading for August 2026
Put Contract Overview: The $20.00 put contract for LEGN has a bid of 60 cents, allowing investors to buy shares at a cost basis of $19.40, which is an 8% discount from the current price of $21.71. There is a 68% chance the contract may expire worthless, offering a potential 3.00% return on cash commitment.
Call Contract Overview: The $22.50 call contract has a bid of $1.60, and if shares are purchased at $21.71 and the call is sold, it could yield an 11.01% return if exercised by August 2026. The chance of the call expiring worthless is 42%, which would provide a 7.37% additional return.
Volatility Insights: The implied volatility for the put contract is 55% and for the call contract is 53%, while the actual trailing twelve-month volatility is calculated at 46%, indicating market expectations for price fluctuations.
YieldBoost Concept: The article discusses the concept of YieldBoost, highlighting potential returns from both put and call contracts, and encourages investors to track these options and their changing odds on the Stock Options Channel website.
See More
