Legend Biotech Faces Crosscurrents Amid Sector Weakness
12.02.2026 - 13:32:16
Legend Biotech Corp finds itself at a critical juncture. The company's shares, having touched fresh annual lows in late January, are caught between conflicting analyst views and a palpable downturn affecting the broader biotechnology sector. With recent industry data pointing to slowing momentum for cell therapies, investors are scrutinizing the firm's operational resilience more closely than ever.
- Divergent Forecasts: Price targets from market researchers show extreme variance, ranging from $21 to $90.
- Industry Headwind: Competitor Gilead Sciences reported a 6% decline in revenue for its cell therapy portfolio.
- Commercial Core: The market adoption of Carvykti remains the pivotal factor for the stock's trajectory.
A significant source of pressure stems from recent updates from within the industry. Gilead Sciences disclosed a 6% drop in sales for its cell therapy products, Yescarta and Tecartus, within the last 24 hours. These figures are widely viewed as a key indicator for overall market acceptance and the reimbursement environment for complex cancer treatments.
The central question for shareholders is whether Legend Biotech can successfully decouple its flagship product, Carvykti, from this broader softness. The therapy for multiple myeloma is the cornerstone of the company's commercial strategy. Forthcoming quarterly results must demonstrate Carvykti's continued ability to capture market share despite these emerging sector-wide challenges.
Extreme Variance in Analyst Sentiment
Current assessments of Legend Biotech's equity reveal a market deeply divided on its prospects. Approximately one week ago, Barclays maintained an "Overweight" rating on the shares but reduced its price target from $90 to $80, signaling a tempered yet persistent confidence in the long-term outlook.
This stance contrasts sharply with other institutions. In late January, TD Cowen downgraded the stock to "Hold," assigning a target of just $21. Meanwhile, H.C. Wainwright's analysis supports a $50 valuation. This enormous discrepancy underscores the prevailing uncertainty regarding the company's growth trajectory and competitive risks.
