Pliant Therapeutics (NASDAQ:PLRX) Reaches New 12-Month Low at $10.36

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price hit a new 52-week low on Thursday . The stock traded as low as $10.36 and last traded at $10.60, with a volume of 14304 shares. The stock had previously closed at $10.58.

Analysts Set New Price Targets

PLRX has been the subject of several analyst reports. Citigroup lowered their target price on Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of Pliant Therapeutics in a report on Friday, June 7th. Royal Bank of Canada lowered their price target on shares of Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Oppenheimer upped their price objective on shares of Pliant Therapeutics from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Tuesday, May 7th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $45.38.

Pliant Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 16.12 and a current ratio of 16.12. The company’s 50 day moving average is $12.51 and its 200-day moving average is $14.92.

Pliant Therapeutics (NASDAQ:PLRX) last issued its earnings results on Monday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.02). Equities research analysts predict that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pliant Therapeutics

Institutional investors have recently modified their holdings of the company. Redmile Group LLC increased its stake in Pliant Therapeutics by 14.9% during the 1st quarter. Redmile Group LLC now owns 3,097,220 shares of the company’s stock valued at $46,149,000 after purchasing an additional 400,572 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Pliant Therapeutics by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,959,088 shares of the company’s stock worth $58,991,000 after acquiring an additional 173,172 shares in the last quarter. Capital International Investors raised its holdings in shares of Pliant Therapeutics by 50.9% in the 1st quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock worth $20,522,000 after acquiring an additional 464,860 shares during the last quarter. EntryPoint Capital LLC lifted its position in Pliant Therapeutics by 99.8% in the 1st quarter. EntryPoint Capital LLC now owns 20,006 shares of the company’s stock valued at $298,000 after acquiring an additional 9,992 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Pliant Therapeutics by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock valued at $51,827,000 after purchasing an additional 412,486 shares during the last quarter. 97.30% of the stock is owned by institutional investors and hedge funds.

Pliant Therapeutics Company Profile

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrosis and related diseases in the United States. The company's lead candidate is bexotegrast, an oral, small-molecule, dual selective inhibitor of avß6 and avß1 integrins, which is in phase 2b trials for idiopathic pulmonary fibrosis and in phase 2a trial for primary sclerosing cholangitis.