- BMO Capital Markets initiated coverage on Legend Biotech Corporation (NASDAQ:LEGN) with a price target of $77, and an Outperform rating.
- The analyst says the company’s recently approved Carvykti for multiple myeloma is best-in-class late-line CAR T therapy.
- Related: EMA’s CHMP Clears Janssen, Legend’s Multiple Myeloma CAR-T Therapy
- Though the analyst expects a gradual increase in sales due to manufacturing limitations, in the long term, he sees a blockbuster opportunity for Carvykti as the leader in multiple myeloma CAR T therapies with peak sales of around $5.5 billion.
- Legend and its collaborator Janssen, a unit of Johnson & Johnson (NYSE:JNJ), are working on expanding Carvykti’s addressable population through approvals in earlier lines and Japan & China that will bolster additional growth.
- The analyst also notes upcoming data readouts from earlier-line therapies that can drive short-term upside.
- Price Action: LEGN shares are up 6.84% at $45.90 during the market session on the last check Friday.
Rigetti Computing Q2 EPS $(0.09) Up From $(0.46) YoY, Sales $2.10M Miss $2.65M Estimate
Rigetti Computing (NASDAQ:RGTI) reported quarterly losses of $(0.09) per share. This is a 80.43 percent increase over losses of $(0.46) per share from the same period last year. The company reported quarterly sales of
