We recently compiled a list of the 20 Best Biotech Stocks Under $20 to Buy Now. The tenth stock on our list is Legend Biotech Corporation.
TheFly reported on January 22 that H.C. Wainwright lowered LEGN’s price target to $50 from $60 but kept a Buy rating, noting Q4 Carvykti sales of $555M missed the $582M consensus. They view the recent pullback as a buying opportunity and highlighted Carvykti’s curative potential.
Similarly, a day earlier on January 21, TD Cowen downgraded Legend Biotech Corporation (NASDAQ:LEGN) from Buy to Hold and cut the price target to $21 from $62. The firm said Carvykti’s Q4 sales of $555 million versus the $582 million consensus reflected holiday seasonality but also indicated sluggish demand, which is influenced by toxicity concerns and growing competition. These factors have slowed adoption in the community and limited uptake even in academic centers.
Legend Biotech Corporation (NASDAQ:LEGN) is a global biotechnology company focused on developing and commercializing advanced cell therapies, especially CAR‑T treatments for cancer, like CARVYKTI for multiple myeloma. It collaborates with partners like Johnson & Johnson and builds end‑to‑end capabilities from discovery to manufacturing to expand therapeutic impact.
While we acknowledge the potential of LEGN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None.
