Legend Biotech’s (PLRX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Legend Biotech (NASDAQ:PLRX) in a research note released on Wednesday morning, AnalystRatings.com reports. They currently have a $40.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Cowen initiated coverage on Legend Biotech in a research note on Monday, June 29th. They set an outperform rating for the company. Piper Sandler initiated coverage on shares of Legend Biotech in a report on Monday, June 29th. They set an overweight rating and a $50.00 price target for the company. Finally, Citigroup initiated coverage on shares of Legend Biotech in a report on Monday, June 29th. They set a buy rating and a $40.00 price target for the company.

NASDAQ PLRX traded down $0.13 during trading on Wednesday, reaching $24.37. 62,453 shares of the company’s stock were exchanged, compared to its average volume of 150,781. The firm’s 50 day simple moving average is $26.34. Legend Biotech has a fifty-two week low of $21.05 and a fifty-two week high of $35.63.

Legend Biotech (NASDAQ:PLRX) last released its earnings results on Tuesday, August 11th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.62). Equities analysts forecast that Legend Biotech will post -2.54 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. TRV GP Iii LLC acquired a new stake in Legend Biotech in the second quarter valued at $189,539,000. FMR LLC bought a new position in shares of Legend Biotech during the 2nd quarter worth about $173,100,000. CHI Advisors LLC bought a new position in shares of Legend Biotech during the 2nd quarter worth about $74,853,000. TRV GP IV LLC bought a new position in shares of Legend Biotech during the 2nd quarter worth about $69,233,000. Finally, Cormorant Asset Management LP bought a new position in shares of Legend Biotech during the 2nd quarter worth about $18,812,000.

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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