In a turbulent market environment, Legend Biotech Corp (LEGN) stock has reached a 52-week low, touching down at $32.65. According to InvestingPro data, technical indicators suggest the stock is currently oversold, while the company maintains strong fundamentals with a current ratio of 4.98x and robust revenue growth of 123% year-over-year. The biotechnological company, known for its innovative approaches in cell therapies, has faced significant headwinds over the past year, reflected in a stark 1-year change with a decline of 45.28%. Investors have shown concern as the stock plummeted to this new low, marking a challenging phase for the company amidst a broader industry reassessment of biotech valuations. The current price level presents a critical juncture for Legend Biotech as it navigates through the evolving market landscape. With analyst price targets ranging from $60 to $95, InvestingPro subscribers can access detailed valuation analysis and 10+ additional expert insights about LEGN's future prospects through the comprehensive Pro Research Report.
In other recent news, Regeneron (NASDAQ:REGN) Pharmaceuticals has been the subject of several analyst notes, with RBC Capital Markets rating the company as "Outperform" and setting a price target of $1,215. The firm maintains a positive outlook despite competition, citing strong growth drivers such as new treatment launches and significant clinical readouts. Similarly, Amgen Inc (NASDAQ:AMGN)., Sarepta Therapeutics (NASDAQ:SRPT), Legend Biotech, and Axsome Therapeutics (NASDAQ:AXSM) also received "Outperform" ratings from RBC Capital, each with promising prospects in their respective fields of biotech.
On the earnings front, Legend Biotech reported an 87.6% year-over-year increase in Q3 2024 sales for their leading CAR T cell therapy, CARVICTI, reaching $286 million. Despite a net loss of $125 million for the quarter, the company maintains a strong financial position with substantial cash reserves.
Analyst firms Piper Sandler, Citi, and TD Cowen also released notes on Regeneron, highlighting various aspects of the company's product line and pipeline. BMO Capital Markets adjusted its outlook on Regeneron, reducing the price target due to a shortfall in the high-dose version of Eylea and upcoming competition. These are the recent developments for Regeneron Pharmaceuticals and Legend Biotech.
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