Pliant Therapeutics (NASDAQ:PLRX) Trading 4.6% Higher After Analyst Upgrade

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRXGet Rating) traded up 4.6% during mid-day trading on Tuesday after SVB Leerink raised their price target on the stock from $33.00 to $45.00. SVB Leerink currently has an outperform rating on the stock. Pliant Therapeutics traded as high as $31.71 and last traded at $31.67. 254,311 shares traded hands during trading, a decline of 81% from the average session volume of 1,370,507 shares. The stock had previously closed at $30.28.

PLRX has been the subject of a number of other research reports. Cantor Fitzgerald lifted their price target on Pliant Therapeutics from $40.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. boosted their target price on Pliant Therapeutics from $42.00 to $51.00 in a research note on Monday. Needham & Company LLC boosted their target price on Pliant Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup boosted their target price on Pliant Therapeutics from $36.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus assumed coverage on Pliant Therapeutics in a research note on Tuesday, December 13th. They issued a “buy” rating and a $33.00 target price on the stock. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Pliant Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $47.11.

Insider Buying and Selling

In related news, General Counsel Mike Ouimette sold 4,719 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 $90,132.90. Following the sale, the general counsel now owns 8,875 shares of the company’s stock, valued at approximately $169,512.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pliant Therapeutics news, CEO Bernard Coulie sold 5,000 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $19.17, for a total transaction of $95,850.00. Following the sale, the chief executive officer now owns 93,812 shares of the company’s stock, valued at approximately $1,798,376.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mike Ouimette sold 4,719 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $19.10, for a total transaction of $90,132.90. Following the sale, the general counsel now directly owns 8,875 shares in the company, valued at approximately $169,512.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,389 shares of company stock valued at $1,863,850. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pliant Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of PLRX. Amalgamated Bank bought a new stake in Pliant Therapeutics during the 1st quarter valued at $27,000. Acadian Asset Management LLC bought a new position in shares of Pliant Therapeutics in the first quarter worth $27,000. UBS Group AG increased its holdings in shares of Pliant Therapeutics by 18.4% in the second quarter. UBS Group AG now owns 3,537 shares of the company’s stock worth $28,000 after purchasing an additional 550 shares during the period. Salem Investment Counselors Inc. increased its holdings in shares of Pliant Therapeutics by 14.5% in the second quarter. Salem Investment Counselors Inc. now owns 7,735 shares of the company’s stock worth $62,000 after purchasing an additional 980 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Pliant Therapeutics in the first quarter worth $89,000. Institutional investors own 97.52% of the company’s stock.

Pliant Therapeutics Trading Up 8.8 %

The stock has a market cap of $1.61 billion, a P/E ratio of -11.24 and a beta of 0.99. The firm’s fifty day moving average price is $19.82 and its two-hundred day moving average price is $20.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 13.99 and a quick ratio of 13.99.

Pliant Therapeutics (NASDAQ:PLRXGet Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.09. The firm had revenue of $1.48 million for the quarter, compared to analysts’ expectations of $2.26 million. Pliant Therapeutics had a negative net margin of 1,160.53% and a negative return on equity of 52.61%. As a group, equities research analysts forecast that Pliant Therapeutics, Inc. will post -2.89 EPS for the current year.

About Pliant Therapeutics

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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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