Legend Biotech's In Vivo CAR-T Cell Therapy Data Validates Approach, RBC Capital Markets Says

MT Newswires Live07-27

Legend Biotech's (LEGN) data from its in vivo CAR-T cell therapy program clearly validates the approach, RBC Capital Markets said in a note Monday.

The investment firm said the market is not fully appreciating Legend Biotech's potential with the program, with the company giving back most of its share gains.

RBC said the potential for additional follow-up data this year and the fact that in vivo's profile should enable higher peak potential could drive Legend's shares higher.

The company could reach the market as soon as 2029 if they move expediently with larger phase 1 dose expansion cohorts, enabling a $3 billion opportunity in non-Hodgkin lymphoma alone, according to the note.

RBC Capital Markets retained an outperform rating on the stock, but lowered its price target to $59 from $63.

Shares of the company were down more than 14% in Monday trading.

Price: 18.97, Change: -3.26, Percent Change: -14.65

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