Pliant Therapeutics (NASDAQ:PLRX) Given New $55.00 Price Target at Citigroup

Pliant Therapeutics (NASDAQ:PLRXGet Rating) had its target price raised by Citigroup from $36.00 to $55.00 in a research report report published on Tuesday, The Fly reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on PLRX. Needham & Company LLC raised their price objective on Pliant Therapeutics from $40.00 to $45.00 and gave the stock a buy rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on Pliant Therapeutics from $42.00 to $51.00 in a report on Monday. Royal Bank of Canada reduced their target price on Pliant Therapeutics from $52.00 to $50.00 and set an outperform rating on the stock in a report on Wednesday, November 9th. Stifel Nicolaus initiated coverage on Pliant Therapeutics in a report on Tuesday, December 13th. They issued a buy rating and a $33.00 target price on the stock. Finally, Cantor Fitzgerald lifted their target price on Pliant Therapeutics from $40.00 to $52.00 and gave the company an overweight rating in a report on Monday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $47.11.

Pliant Therapeutics Price Performance

Shares of NASDAQ:PLRX opened at $32.94 on Tuesday. The business’s fifty day moving average price is $19.82 and its two-hundred day moving average price is $20.51. The stock has a market cap of $1.61 billion, a PE ratio of -11.24 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 13.99 and a current ratio of 13.99. Pliant Therapeutics has a one year low of $3.96 and a one year high of $36.50.

Pliant Therapeutics (NASDAQ:PLRXGet Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.09. Pliant Therapeutics had a negative return on equity of 52.61% and a negative net margin of 1,160.53%. The firm had revenue of $1.48 million for the quarter, compared to analysts’ expectations of $2.26 million. On average, analysts forecast that Pliant Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling at Pliant Therapeutics

In other Pliant Therapeutics news, insider Eric Lefebvre sold 10,887 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $19.10, for a total value of $207,941.70. Following the transaction, the insider now directly owns 144,426 shares of the company’s stock, valued at $2,758,536.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Bernard Coulie sold 15,000 shares of Pliant Therapeutics stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $19.04, for a total value of $285,600.00. Following the completion of the transaction, the chief executive officer now directly owns 93,812 shares in the company, valued at $1,786,180.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Lefebvre sold 10,887 shares of Pliant Therapeutics stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $19.10, for a total value of $207,941.70. Following the completion of the transaction, the insider now owns 144,426 shares of the company’s stock, valued at $2,758,536.60. The disclosure for this sale can be found here. Insiders have sold 97,389 shares of company stock valued at $1,863,850 over the last three months. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pliant Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PLRX. Swiss National Bank boosted its position in shares of Pliant Therapeutics by 8.8% during the first quarter. Swiss National Bank now owns 29,800 shares of the company’s stock worth $209,000 after buying an additional 2,400 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Pliant Therapeutics during the first quarter worth approximately $27,000. BlackRock Inc. boosted its position in shares of Pliant Therapeutics by 0.6% during the first quarter. BlackRock Inc. now owns 1,698,212 shares of the company’s stock worth $11,905,000 after buying an additional 10,338 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Pliant Therapeutics during the first quarter worth approximately $95,000. Finally, Lord Abbett & CO. LLC boosted its position in shares of Pliant Therapeutics by 1.8% during the first quarter. Lord Abbett & CO. LLC now owns 297,034 shares of the company’s stock worth $2,082,000 after buying an additional 5,220 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Pliant Therapeutics Company Profile

(Get Rating)

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. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avß6 and avß1 integrins, which is in three Phase 2a trials.

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