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].

Core Viewpoint - Legend Biotech (LEGN.US) has experienced significant stock price volatility, with a peak of $45.29 in July 2025 followed by a decline of 55.38%, reaching a low of $20.21 in January 2026, raising questions about its growth potential and market valuation [1][2][6] Stock Performance Analysis - The stock price of Legend Biotech has shown a typical technical regression after a significant rise, with a rapid decline over 14 trading days following its peak on July 23, 2025 [2] - During the decline, trading volume remained low, indicating stable investor sentiment despite the price drop [2] - From August 11 to November 11, 2025, the stock exhibited a sideways movement with low trading volume, suggesting a lack of market support [3] - A notable increase in trading volume on November 12, 2025, marked the beginning of a more pronounced downward trend, culminating in a series of declines [4] Financial Performance Insights - The Q3 2025 financial report highlighted strong sales for the core product, Carvykti, with quarterly sales reaching $524 million, a 83% year-over-year increase, and total sales for the first nine months of 2025 at $1.332 billion, doubling from the previous year [6][7] - However, the report also revealed a significant drop in licensing revenue, which fell to $10.5 million from $17.1 million in the same quarter the previous year, indicating a potential issue with new licensing agreements [7] - The overall costs increased to $113 million, outpacing revenue growth, which raised concerns about profitability despite strong product sales [7] Competitive Landscape - The emergence of Johnson & Johnson's Tec-Dara treatment, which demonstrated superior clinical trial results compared to Carvykti, has raised competitive concerns for Legend Biotech [9] - The market perceives Tec-Dara as a direct competitor to Carvykti, which could impact Legend Biotech's market share and pricing power in the multiple myeloma treatment space [9][10] - Despite the competitive pressures, the current valuation of Legend Biotech, with a price-to-sales ratio of 4.26, is significantly lower than the industry average of 9.27, suggesting potential investment attractiveness for bullish investors [10]

Company Overview - Legend Biotech (NASDAQ:LEGN) is a commercial-stage biopharmaceutical company focused on developing innovative therapies for serious diseases, including hematologic malignancies and solid tumors [5]. Stock Performance and Analyst Ratings - As of December 19, Legend Biotech's stock has a consensus rating that remains bullish, with 10 out of 11 analysts assigning Buy ratings and 1 analyst assigning a Hold rating. There are no Sell ratings for the stock [2]. - The stock has an estimated 1-year average price target of $68.20, indicating a potential upside of 211% from current trading levels [2]. - Cantor Fitzgerald analyst Eric Schmidt reaffirmed an overweight stance on the stock, assigning a Buy rating with a target price of $74, suggesting a 238% upside potential at the current trading range [3]. Product and Market Insights - Management views CAR-T cell therapy, specifically Carvykti, as a unique cure for myeloma, supported by long-term survival benefit data. The increasing demand for myeloma treatment is expected to drive production scaling [4]. - The management's positive outlook on CAR-T therapy and the anticipated growth in demand are seen as factors that outweigh potential competitive threats in the market, strengthening the investment case for Legend Biotech [4].

Group 1: Market Overview - The pharmaceutical and biotechnology index decreased by 0.14% from December 15 to December 19, outperforming the ChiNext and CSI 300 indices [1][23] - The total trading volume in the pharmaceutical sector was 389.82 billion yuan, accounting for 4.49% of the total trading volume in the Shanghai and Shenzhen markets, which is below the average of 7.12% since 2013 [1][38] - The pharmaceutical sector ranked 18th in terms of weekly performance among all industries during the same period [1][25] Group 2: Sector Analysis - The recent lack of significant industrial catalysts has led to a muted beta effect in the sector, but many stocks have entered a value range, indicating potential for a rebound [2][59] - The "reward economy" theme has positively influenced certain pharmaceutical companies, particularly those linked to Ant Group and related retail channels [2][59] - Strong performance was noted in CXO, small nucleic acids, and certain innovative drugs, driven by specific stock factors such as BD expectations and overseas mapping [2][59] Group 3: In Vivo CAR-T Developments - In vivo CAR-T technology is expected to address the accessibility issues of CAR-T therapies, potentially lowering treatment costs and making it available as a shelf product [4][12] - Major pharmaceutical companies are actively investing in in vivo CAR-T, with business development (BD) transactions exceeding 5 billion USD, indicating its strategic importance [4][16] - Clinical data presented at the 2025 ASH meeting showed promising results for in vivo CAR-T therapies, with high rates of minimal residual disease (MRD) negativity in patients [4][19] Group 4: Future Outlook - The company maintains a positive outlook on innovation, international expansion, and turnaround opportunities in the pharmaceutical sector, focusing on BD 2.0, small nucleic acids, and supply chains as key investment areas [3][22] - The upcoming 2026 potential catalysts include the publication of the commercial insurance innovation drug directory and the commercialization of targeted CAR-T therapies [21][22] - Domestic companies are rapidly advancing in the in vivo CAR-T space, with several candidates in early clinical stages, indicating a growing competitive landscape [22][22]

Core Insights - The health care sector has several oversold stocks that present potential buying opportunities for undervalued companies [1] Group 1: Oversold Stocks - Insmed Inc (NASDAQ:INSM) has an RSI value of 26.8, with a recent stock price of $198.46, and has experienced a 2% decline over the past month [7] - Tempus AI Inc (NASDAQ:TEM) also has an RSI value of 26.8, with shares closing at $64.62 after a 13% drop in the last five days [7] - Legend Biotech Corp (NASDAQ:LEGN) has the lowest RSI value at 19.1, with a stock price of $21.42, reflecting a 27% decrease over the past month [7]

Core Insights - The health care sector has several oversold stocks that present potential buying opportunities for undervalued companies [1] Group 1: Oversold Stocks - Insmed Inc (NASDAQ:INSM) has an RSI value of 26.8, with a recent stock price of $198.46, and has experienced a 2% decline over the past month [7] - Tempus AI Inc (NASDAQ:TEM) also has an RSI value of 26.8, with shares closing at $64.62 after a 13% drop in the last five days [7] - Legend Biotech Corp (NASDAQ:LEGN) has the lowest RSI value at 19.1, with a stock price of $21.42, reflecting a 27% decline over the past month [7]

Company Updates - Legend Biotech Corporation will present the latest company updates at the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026, at 9:00 a.m. PT [1] - The live webcast of the presentation will be accessible through the Investor Relations section of Legend's website, with a replay available approximately 48 hours later [2] Company Overview - Legend Biotech is the largest standalone cell therapy company with over 2,900 employees and is a pioneer in cancer treatment innovations [3] - The company is leading the CAR-T cell therapy revolution with its product CARVYKTI, a one-time treatment for relapsed or refractory multiple myeloma, developed in collaboration with Johnson & Johnson [3] - Legend Biotech aims to maximize patient access and therapeutic potential of CARVYKTI while driving future innovations across its pipeline of advanced cell therapy modalities [3]

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].

Core Insights - Legend Biotech Corporation announced long-term clinical data for CARVYKTI, showing a median progression-free survival (mPFS) of 50.4 months in triple-class-exposed relapsed/refractory multiple myeloma patients after a single infusion, marking one of the longest PFS outcomes for BCMA-targeted CAR-T therapy in this population [1][8][12] Group 1: Clinical Data and Efficacy - The CARTITUDE-1 and CARTITUDE-4 studies demonstrated that patients treated with CARVYKTI earlier in their treatment journey exhibited stronger immune fitness and a more immunocompetent tumor microenvironment, correlating with longer PFS [3][4][12] - At a median follow-up of 33.6 months, patients with standard-risk cytogenetics in the CARVYKTI arm achieved a 30-month PFS rate of 71.0%, compared to 43.2% in the standard-of-care arm [7][8] - Notably, all patients who achieved minimal residual disease (MRD)-negative complete response at 12 months following CARVYKTI infusion remained progression-free at 30 months [9] Group 2: Safety and Adverse Events - Among patients receiving CARVYKTI, cytokine release syndrome (CRS) occurred in 84% of cases, with a median time to onset of 7 days and resolution in 82% of patients [20][22] - Neurologic toxicities, including Immune Effector Cell-associated Neurotoxicity Syndrome (ICANS), occurred in 24% of patients, with a median time to onset of 10 days [25][28] - Hypogammaglobulinemia was reported in 36% of patients, with 93% experiencing laboratory IgG levels below 500 mg/dL after infusion [52][53] Group 3: Company Overview and Future Directions - Legend Biotech is a leader in cell therapy, particularly with CARVYKTI, which has been approved for treating relapsed or refractory multiple myeloma [64][65] - The company is focused on expanding patient access and therapeutic potential of CARVYKTI while driving innovation across its pipeline of cell therapy modalities [71]

Core Insights - Legend Biotech has been awarded the Foreign Investor of the Year at the 2025 Flanders International Business Awards, recognizing its significant contributions to the region's biotech sector [1][2] - The company has made a €165 million joint investment with Johnson & Johnson to expand its manufacturing facility in Ghent, enhancing its position as a major CAR-T manufacturing center in Europe [3][4] Company Growth and Operations - Since starting operations in Ghent in 2022, Legend Biotech's workforce has grown from 2 to over 1,000 employees, representing 66 nationalities, with plans for further hiring in the coming years [4] - The Ghent facility, along with the nearby Obelisc site, serves as the European hub for clinical and commercial supply of cell therapies across the EMEA region [3] Strategic Partnerships and Ecosystem - Legend Biotech's growth is closely linked to the strength of the Flemish biotech ecosystem, supported by partnerships with Flanders Investment & Trade (FIT) and collaborations with research institutions like VIB and Ghent University [5] - The company aims to leverage its leadership in CAR-T cell therapy to maximize patient access and drive future innovations in cell therapy modalities [6]