Legend Biotech (LEGN) recently generated buzz by raising approximately $226 million through an equity offering and revealing positive early clinical data for its CAR T therapy, LB2501. Despite this, the company’s stock has been volatile, dropping 16.7% on the announcement day and 23% in the past week, although it has seen a 60.4% gain over the last 90 days. Current evaluations suggest that Legend Biotech shares are undervalued at a fair value estimate of $57.24, compared to a last close of $27.93, attributing this gap to the company’s potential in treating multiple myeloma. Investors are urged to assess whether the recent decline presents a buying opportunity amidst concerns about competition and high operational costs.
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Link to original article source: https://simplywall.st/stocks/us/pharmaceuticals-biotech/nasdaq-legn/legend-biotech/news/legend-biotech-legn-stock-could-be-512-undervalued-after-equ
