Pliant Therapeutics, Inc. (NASDAQ:PLRX) Receives $40.57 Average Target Price from Brokerages

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have earned an average recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $40.57.

Several research firms have commented on PLRX. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a report on Friday, September 13th. Leerink Partnrs raised shares of Pliant Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Oppenheimer cut their price target on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th.

Pliant Therapeutics Trading Up 2.8 %

NASDAQ:PLRX opened at $14.90 on Friday. Pliant Therapeutics has a 52 week low of $10.22 and a 52 week high of $19.62. The firm has a 50-day moving average price of $12.90 and a two-hundred day moving average price of $12.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 14.47 and a current ratio of 14.47. The firm has a market cap of $905.92 million, a price-to-earnings ratio of -4.82 and a beta of 1.08.

Pliant Therapeutics (NASDAQ:PLRX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07). On average, equities analysts expect that Pliant Therapeutics will post -3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PLRX. Summit Securities Group LLC purchased a new position in shares of Pliant Therapeutics in the 2nd quarter worth about $59,000. SG Americas Securities LLC bought a new stake in Pliant Therapeutics in the 1st quarter worth approximately $107,000. Atria Investments Inc purchased a new stake in Pliant Therapeutics in the third quarter worth approximately $112,000. Deerfield Management Company L.P. Series C bought a new position in Pliant Therapeutics during the second quarter valued at approximately $126,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Pliant Therapeutics by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock worth $131,000 after acquiring an additional 4,607 shares in the last quarter. 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.