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

Legend Biotech Corporation (NASDAQ:LEGN) is one of the 12 Stocks that Will Bounce Back According to Wall Street Analysts. On December 17, Cantor Fitzgerald maintained its Overweight rating on Legend Biotech Corporation (NASDAQ:LEGN) with a price target of $74. The firm said the stock has come under pressure because of concerns about competition, even though the company’s cancer therapy, Carvykti, is still on track to grow around 100% year-over-year to reach nearly $2 billion in sales in 2025.

Legend Biotech Corporation’s (NASDAQ:LEGN) partner, Johnson & Johnson (NYSE:JNJ), has maintained its outlook for Carvykti to achieve peak sales over $5 billion in the growing multiple myeloma market. This forecast was reaffirmed at a post-American Society of Hematology meeting with analysts.

According to estimates by Cantor Fitzgerald, Legend Biotech Corporation (NASDAQ:LEGN) is trading at an enterprise value to current sales multiple of roughly 3x and an enterprise value to peak sales multiple of approximately 1x. The research firm sees Legend Biotech Corporation (NASDAQ:LEGN) as “one of the best values in biotech” because of its prospects for strong revenue growth and expectations for the company to become profitable in 2026.

Earlier, on December 9, RBC Capital also reiterated its Outperform rating on Legend Biotech Corporation (NASDAQ:LEGN) with a price target of $74. The firm believes that Carvykti remains “potentially the highest efficacy option” with “one-and-done convenience.” RBC Capital recommends buying the stock during periods of weakness based on its expectations for near-term profitability and continued growth in 2026.

Legend Biotech Corporation (NASDAQ:LEGN) is a global biotechnology and cell therapy company focused on discovering, developing, and commercializing novel cell therapies for cancer and other serious diseases.

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