Asia FX cautious amid US govt shutdown; yen tumbles after Takaichi’s LDP win
Investing.com - RBC Capital has reiterated its Outperform rating and $77.00 price target on Legend Biotech Corp. (NASDAQ:LEGN), according to a research note released Friday. The target represents significant upside from the current price of $33.83, with analyst targets ranging from $54 to $94, according to InvestingPro data.
The firm’s analyst expressed continued confidence in LEGN shares, citing the strength of the company’s core business and what RBC believes is a currently discounted valuation. This view aligns with InvestingPro analysis, which shows the company maintains strong financial health with a 4.71 current ratio and more cash than debt on its balance sheet.
RBC acknowledged that Legend Biotech stock has been range-bound or steadily declining over the past year, noting this performance trend has prompted frequent investor inquiries about potential catalysts.
In response to these questions, RBC identified 15 potential events across various probability levels that could serve as positive catalysts for the stock.
The investment firm concluded with confidence that Legend Biotech shares could experience an inflection point over the next 12 months, supporting its maintained Outperform rating on the stock.
In other recent news, Legend Biotech Corporation reported its second-quarter 2025 earnings, showcasing a notable increase in revenue. The company achieved revenue of $255.06 million, exceeding forecasts of $234.23 million. However, the earnings per share (EPS) showed a larger-than-expected loss of $0.34, missing the anticipated loss of $0.1153. RBC Capital responded by raising its price target for Legend Biotech to $77, maintaining an Outperform rating due to strong demand and successful manufacturing of its Carvykti product. Additionally, Legend Biotech appointed Carlos Santos as its new Chief Financial Officer, succeeding Jessie Yeung. Santos will focus on maintaining a strong balance sheet with an eye on profitability by 2026. Meanwhile, BeiGene faced stock volatility amid reports of a potential executive order from President Trump targeting Chinese biotech firms. RBC Capital noted that this news could create broader strength in the U.S. biotech industry despite perceived risks associated with Chinese companies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.