Analysts Set Pliant Therapeutics, Inc. (NASDAQ:PLRX) PT at $45.38

Pliant Therapeutics, Inc. (NASDAQ:PLRX) has earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $45.38.

PLRX has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Tuesday, May 7th. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of Pliant Therapeutics in a research note on Friday, June 7th. Royal Bank of Canada cut their price objective on Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Oppenheimer increased their target price on Pliant Therapeutics from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, Citigroup dropped their price target on Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX opened at $10.58 on Monday. The stock’s 50-day moving average is $12.41 and its 200 day moving average is $14.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 16.12 and a current ratio of 16.12. Pliant Therapeutics has a 1 year low of $10.34 and a 1 year high of $20.23.

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

Institutional Trading of Pliant Therapeutics

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in Pliant Therapeutics during the fourth quarter valued at $37,000. China Universal Asset Management Co. Ltd. raised its position in shares of Pliant Therapeutics by 353.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,929 shares of the company’s stock worth $125,000 after purchasing an additional 5,400 shares during the last quarter. SG Americas Securities LLC bought a new position in Pliant Therapeutics in the 1st quarter worth about $107,000. Profund Advisors LLC purchased a new stake in Pliant Therapeutics during the 3rd quarter valued at about $215,000. Finally, Arizona State Retirement System increased its stake in Pliant Therapeutics by 6.4% during the 4th quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock valued at $227,000 after purchasing an additional 754 shares in the last quarter. 97.30% of the stock is owned by institutional investors.

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.