Analyst's Verdict on Legend Biotech: Doubts On Commercial Execution, Long- Term Market Share
Portfolio Pulse from Vandana Singh
William Blair initiated coverage on Legend Biotech Corporation (NASDAQ:LEGN) with a Market Perform rating, citing doubts on commercial execution and long-term market share. Carvykti's commercial launch has faced several hiccups, and emerging BCMA-targeted products could decrease its market share. Legend Biotech submitted a supplemental marketing application for Carvykti to the European Medicines Agency.
May 25, 2023 | 6:03 pm
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Legend Biotech's Market Perform rating by William Blair raises concerns about Carvykti's commercial execution and long-term market share. LEGN shares are down 3.00%.
The Market Perform rating by William Blair indicates doubts about Legend Biotech's ability to execute Carvykti's commercial launch and maintain long-term market share. This could negatively impact investor sentiment and put downward pressure on LEGN's stock price in the short term.
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