Piper Sandler Initiates Coverage on Legend Biotech (NASDAQ:PLRX)

Piper Sandler assumed coverage on shares of Legend Biotech (NASDAQ:PLRX) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm set an “overweight” rating and a $50.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 54.04% from the company’s previous close.

Shares of NASDAQ:PLRX opened at $32.46 on Monday. Legend Biotech has a 12-month low of $21.05 and a 12-month 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.

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