Why Legend Biotech Corporation (LEGN) is the Most Oversold Pharma Stock to Buy According to Analysts

Legend Biotech Corporation (LEGN) has been on a rollercoaster ride in the stock market, with its shares plummeting by 33.94% in the last 52 weeks. However, analysts remain bullish on the company, with an average price target of $79.5, representing a 100.25% increase from the current price of $39.70. This discrepancy between the stock's price and analyst expectations suggests that LEGN is the most oversold pharma stock to buy according to analysts.



Several factors contribute to LEGN's current oversold status and analysts' positive outlook:

1. Innovative Cell Therapies: LEGN's lead product candidate, LCAR-B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM). This innovative therapy, along with its portfolio of earlier-stage autologous CAR-T product candidates targeting various cancers, positions the company at the forefront of cell therapy development. Analysts recognize the potential of these therapies to transform outcomes in refractory multiple myeloma and other cancers, leading to strong buy recommendations and high price targets.
2. Strong Pipeline: LEGN's pipeline of earlier-stage autologous CAR-T product candidates targeting various cancers, including Non-Hodgkins Lymphoma and acute lymphoblastic leukemia, demonstrates the company's commitment to research and development. This strong pipeline contributes to analysts' positive outlook on the company's growth potential, as it indicates a steady stream of new therapies in the pipeline.
3. Global R&D Presence: LEGN's global R&D presence allows it to tap into diverse talent pools and collaborate with international partners, enhancing its ability to develop and commercialize novel cell therapies. This global presence contributes to analysts' confidence in the company's growth prospects and influences their positive recommendations and price targets.
4. Analyst Consensus: The average analyst rating for LEGN is "Strong Buy," with 12 analysts maintaining this consensus. This strong agreement among analysts indicates their confidence in the company's growth potential and the stock's undervalued status.

In conclusion, Legend Biotech Corporation (LEGN) is the most oversold pharma stock to buy according to analysts due to its innovative cell therapies, strong pipeline, global R&D presence, and analyst consensus. Despite the stock's recent price decline, analysts remain bullish on the company's long-term prospects, with an average price target of $79.5, representing a 100.25% increase from the current price. Investors should consider LEGN as a potential buying opportunity, given the company's strong fundamentals and analysts' positive outlook.