Legend Biotech (LEGN) overlooked growth stock to buy now

What happened: Legend Biotech (LEGN) shares surged 18.42% on March 10, marking a fifth consecutive day of gains, following bullish ratings and price target increases from two investment firms. The biotech company, which focuses on oncology drug development, has innovative science backing its efforts and was recently featured as one of the 10 stocks with double-digit returns.

Market impact: The biotechnology sector, particularly oncology-focused companies, has seen increased investor interest. Legend Biotech's strong performance has pushed its year-to-date gains to over 30%, outpacing the broader market. This narrative may encourage further investment in overlooked growth stocks within the biotech sector.

What to watch next: On April 25, Legend Biotech is expected to report its first-quarter 2023 earnings. Additionally, investors should monitor progress on LEGN's pipeline, with key data readouts or regulatory updates potentially driving the stock's trajectory. Lastly, any significant acquisitions or partnerships in the biotech sector could further impact LEGN's performance.