Citigroup Initiates Coverage on Legend Biotech (NASDAQ:PLRX)

Analysts at Citigroup assumed coverage on shares of Legend Biotech (NASDAQ:PLRX) in a report issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $40.00 price target on the stock. Citigroup‘s price target would suggest a potential upside of 23.23% from the stock’s previous close.

Separately, Piper Sandler initiated coverage on Legend Biotech in a research report on Monday. They set an “overweight” rating and a $50.00 price target for the company.

Shares of NASDAQ PLRX opened at $32.46 on Monday. Legend Biotech has a 52 week low of $21.05 and a 52 week high of $35.63.

About Legend Biotech

Pliant Therapeutics, Inc, a biotechnology company, discovers, develops, and commercializes treatments for fibrotic diseases. The company focuses on tissue-specific integrin modulation and EMT inhibition fibrosis diseases in lungs, liver, muscle, kidney, skin, heart, and the gastrointestinal tract. Its pipeline includes PLN-74809, an inhibitor of aVß1/aVß6 for idiopathic pulmonary fibrosis and primary sclerosing cholangitis; and PLN-1474, an inhibitor of TGF-ß activation by the integrin aVß1 for the treatment of end-stage liver fibrosis in NASH.

Further Reading: Dead Cat Bounce

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