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

Legend Biotech Corporation (NASDAQ:LEGN) ranks among the most oversold biotech stocks to invest in. On November 12, William Blair analyst Sami Corwin reiterated his Hold rating for Legend Biotech Corporation (NASDAQ:LEGN) shares. The analyst mentioned the company’s Carvykti, which has seen a significant boost in revenue, owing to its acceptance in third-line settings. However, this growth fell slightly short of the analysts’ estimates.

Legend Biotech Corporation (NASDAQ:LEGN) has overcome previous manufacturing capacity concerns, is currently fulfilling market demand, and plans additional expansion to significantly boost dosing capacity by 2026. Despite these encouraging advances, the amended Carvykti label, which includes new safety warnings, poses potential issues.

On the same day as the analyst coverage, Legend Biotech Corporation (NASDAQ:LEGN) published its third-quarter earnings for 2025, which were mixed and fell short of market forecasts. The company reported earnings per share of -$0.05, slightly lower than the expected -$0.044. Meanwhile, revenue fell short of the expected $274.72 million, coming in at $272.33 million.

Legend Biotech Corporation (NASDAQ:LEGN) is a clinical-stage company that develops, discovers, manufactures, and commercializes novel therapies for oncology and other indications.

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Disclosure: None. This article is originally published at Insider Monkey.