Suvretta Capital Management sold nearly 1.1 million shares of Arcutis Biotherapeutics (ARQT) during Q3, reducing its position by $35.78 million. Despite the sale, ARQT remains the fund's largest holding worth $197.51 million. The stock has doubled in value over the past year, significantly outperforming the S&P 500. The sale appears to be a risk management decision following the dramatic stock appreciation rather than a loss of conviction in the company's fundamentals.

A study of CARVYKTI® demonstrated lasting treatment-free remissions in 80% of standard-risk multiple myeloma patients when used as early as second-line therapy, with improved immune fitness potentially correlating with longer progression-free survival.

Legend Biotech was awarded Foreign Investor of the Year at the 2025 Flanders International Business Awards for its €165 million investment with Johnson & Johnson to expand cell therapy manufacturing in Ghent, Belgium, growing from 2 to over 1,000 employees.

The global gene therapies for cancer treatment market is expected to grow from $8.28 billion in 2024 to $238.77 billion by 2034, with a 39.94% CAGR. North America currently dominates the market, with CAR-T cell therapy leading market share and significant innovations driving growth.

Legend Biotech reported strong Q1 2025 results, with CARVYKTI® net trade sales of $369 million and over 6,000 patients treated to date. The company received positive regulatory updates, expanded manufacturing capacity, and maintained a strong cash position of $1 billion, which is expected to provide financial runway into Q2 2026.

The article discusses the T-cell lymphoma drug pipeline, highlighting the development of novel therapies by companies like Eisai, Takeda, and Rhizen Pharmaceuticals. Regulatory agencies are providing support to accelerate the development of these treatments, addressing the urgent need for better options in this challenging condition.

The global gene therapy market is expected to grow significantly, driven by technological advancements, increased R&D investment, and the rising prevalence of genetic disorders. Key players in the market are focusing on developing transformative gene therapy platforms and expanding their capabilities through strategic collaborations and acquisitions.

Legend Biotech, a global leader in cell therapy, will host a conference call on August 9, 2024, to review its second-quarter 2024 results. The company is developing advanced cell therapies across various technology platforms.

Shares of cell therapy company Legend Biotech Corp (NASDAQ:LEGN) were trading lower on Monday, after being among the top pharma gainers in the first week of June. The company's Carvykti drug is likely to return to growth and revive investor enthusiasm, according to Truist Securities. The Legend Biotech Analyst: Asthika Goonewardene initiated coverage of Legend Biotech with a Buy rating and price target of $88. The Legend Biotech Thesis: In a landmark collaboration with Johnson & Johnson (NYSE:JNJ), the company launched Carvykti, which is "the most attractive product" for treating multiple ...Full story available on Benzinga.com

Legend Biotech (NASDAQ:LEGN) has been analyzed by 18 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 11 7 0 0 0 Last 30D 1 0 0 0 0 1M Ago 4 1 0 0 0 2M Ago 2 1 0 0 0 3M Ago 4 5 0 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $81.61, along with a high estimate of $87.00 and a low estimate of $60.00. Surpassing the previous average price target of $78.67, the current average has increased by 3.74%. Interpreting Analyst Ratings: A Closer Look The standing of Legend Biotech among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Mitchell Kapoor HC Wainwright & Co. Maintains Buy $73.00 $73.00 Mitchell Kapoor HC Wainwright & Co. Lowers Buy $73.00 $86.00 James Shin Deutsche Bank Announces Buy $60.00 - Leonid Timashev RBC Capital Raises Outperform $86.00 $85.00 Mitchell Kapoor HC Wainwright & Co. Lowers Buy $86.00 $87.00 Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - George Farmer Scotiabank Maintains Sector Outperform $65.00 $65.00 Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Rick Bienkowski Cantor Fitzgerald Announces Overweight $82.00 - Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Ashwani Verma UBS Raises Buy $81.00 $76.00 Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Sean McCutcheon Raymond James Announces Outperform $86.00 - Leonid Timashev RBC Capital Maintains Outperform $85.00 - Leonid Timashev RBC Capital Maintains Outperform $85.00 - Leonid Timashev RBC Capital Maintains Outperform $85.00 - Key Insights: Action Taken: ...Full story available on Benzinga.com

14 analysts have shared their evaluations of Legend Biotech (NASDAQ:LEGN) during the recent three months, expressing a mix of bullish and bearish perspectives. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 8 6 0 0 0 Last 30D 1 0 0 0 0 1M Ago 3 1 0 0 0 2M Ago 3 1 0 0 0 3M Ago 1 4 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $84.07, a high estimate of $87.00, and a low estimate of $65.00. Observing a 10.62% increase, the current average has risen from the previous average price target of $76.00. Investigating Analyst Ratings: An Elaborate Study A clear picture of Legend Biotech's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Mitchell Kapoor HC Wainwright & Co. Lowers Buy $86.00 $87.00 Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - George Farmer Scotiabank Maintains Sector Outperform $65.00 $65.00 Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Rick Bienkowski Cantor Fitzgerald Announces Overweight $82.00 - Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Ashwani Verma UBS Raises Buy $81.00 $76.00 Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Mitchell Kapoor HC Wainwright & Co. Maintains Buy $87.00 - Sean McCutcheon Raymond James Announces Outperform $86.00 - Leonid Timashev RBC Capital Maintains Outperform $85.00 - Leonid Timashev RBC Capital Maintains Outperform $85.00 - Leonid Timashev RBC Capital Maintains Outperform $85.00 - Key Insights: Action Taken: Analysts adapt ...Full story available on Benzinga.com

Legend Biotech (LEGN) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.