Intel stock spikes after report of possible US government stake
Investing.com - RBC Capital raised its price target on Legend Biotech Corp . (NASDAQ:LEGN) to $77.00 from $75.00 on Tuesday, while maintaining an Outperform rating on the stock. According to InvestingPro data, analyst targets for LEGN range from $54 to $94, with the stock currently trading at $37.10, suggesting significant upside potential.
The price target increase follows Legend Biotech’s second-quarter 2025 financial report, which demonstrated continued strong demand and successful manufacturing for its Carvykti product. The company has shown impressive revenue growth of 112% over the last twelve months, though InvestingPro analysis indicates gross profit margins remain at 8.6%.
RBC Capital noted that these favorable trends are expected to continue into the second half of 2025 as Legend Biotech and Johnson & Johnson work to expand beyond academic hospital settings to target community centers and networks.
The firms are also focusing on driving outpatient use and earlier line treatment for Carvykti, with growth anticipated in the U.S. market and further acceleration expected in international markets.
Several tailwinds were identified for the company, including the impact of five-year overall survival data, decreasing neurotoxicity rates, and additional supply enhancements expected by the end of 2025.
In other recent news, Legend Biotech Corp reported its second-quarter earnings for 2025, showcasing notable revenue growth. The company achieved a revenue of 255.06 million USD, surpassing analyst forecasts of 234.23 million USD. Despite this revenue increase, Legend Biotech reported a larger-than-expected loss per share, with an EPS of negative 0.34 USD, missing the anticipated loss of 0.1153 USD. The market responded positively to the revenue performance, even though the EPS figures were below expectations. These developments highlight the company’s ability to exceed revenue predictions while facing challenges in profitability.
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