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Truist downgraded Legend Biotech to "hold" despite strong growth potential in its cancer CAR-T therapies.
Legend Biotech (LEGN) was downgraded from "strong-buy" to "hold" by Truist Financial, though the stock maintains a consensus "moderate buy" rating and an average price target of $55.08.
The company, based in Somerset, New Jersey, with R&D in Shanghai, develops CAR-T therapies for cancer, led by its approved drug Carvykti for multiple myeloma, supported by partnerships with Janssen Biotech and Novartis.
Despite a current stock price around $19, a market cap of $3.65 billion, and strong liquidity, Legend Biotech remains unprofitable with a negative P/E of -30.38 and a negative EPS of -1.28.
Analysts project significant upside, with a 248% potential gain based on a $63.07 target, though risks persist due to the biotech sector's development uncertainties.
Truist rebajó la calificación de Legend Biotech a "mantener" a pesar del fuerte potencial de crecimiento en sus terapias contra el cáncer CAR-T.