Pliant Therapeutics, Inc. (NASDAQ:PLRX) Receives Average Rating of “Buy” from Analysts

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have received an average rating of “Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $40.57.

Several research analysts recently weighed in on PLRX shares. Leerink Partnrs upgraded shares of Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners assumed coverage on Pliant Therapeutics in a research report on Monday, September 9th. They issued an “outperform” rating and a $33.00 target price on the stock. Oppenheimer reduced their price objective on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Pliant Therapeutics in a research report on Thursday, August 8th.

Pliant Therapeutics Trading Up 1.4 %

Shares of PLRX stock opened at $12.00 on Friday. Pliant Therapeutics has a 52-week low of $10.29 and a 52-week high of $19.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 14.47 and a quick ratio of 14.47. The business has a 50-day simple moving average of $12.84 and a 200-day simple moving average of $13.18.

Pliant Therapeutics (NASDAQ:PLRX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07). Research analysts predict that Pliant Therapeutics will post -3.71 earnings per share for the current year.

Insider Activity

In related news, CFO Keith Lamont Cummings sold 10,911 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $126,131.16. Following the completion of the sale, the chief financial officer now directly owns 282,115 shares in the company, valued at $3,261,249.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Mike Ouimette sold 7,656 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $88,503.36. Following the completion of the sale, the general counsel now directly owns 94,044 shares of the company’s stock, valued at approximately $1,087,148.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith Lamont Cummings sold 10,911 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $126,131.16. Following the completion of the sale, the chief financial officer now owns 282,115 shares in the company, valued at $3,261,249.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,596 shares of company stock valued at $804,530. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PLRX. Quest Partners LLC acquired a new position in shares of Pliant Therapeutics in the 4th quarter worth approximately $37,000. Summit Securities Group LLC acquired a new stake in shares of Pliant Therapeutics in the second quarter valued at $59,000. SG Americas Securities LLC purchased a new stake in shares of Pliant Therapeutics in the 1st quarter valued at $107,000. Deerfield Management Company L.P. Series C acquired a new position in Pliant Therapeutics during the 2nd quarter worth about $126,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Pliant Therapeutics by 67.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock valued at $173,000 after acquiring an additional 4,652 shares during the period. Hedge funds and other institutional investors own 97.30% of the company’s stock.

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.