Needham & Company LLC Lowers Pliant Therapeutics (NASDAQ:PLRX) Price Target to $38.00

Pliant Therapeutics (NASDAQ:PLRXGet Free Report) had its price objective reduced by research analysts at Needham & Company LLC from $45.00 to $38.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 135.88% from the stock’s current price.

A number of other research firms have also recently commented on PLRX. Leerink Partnrs reissued an “outperform” rating on shares of Pliant Therapeutics in a research note on Monday, October 16th. Royal Bank of Canada dropped their price objective on shares of Pliant Therapeutics from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. HC Wainwright dropped their price objective on shares of Pliant Therapeutics from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wells Fargo & Company began coverage on shares of Pliant Therapeutics in a research note on Friday, December 8th. They set an “overweight” rating and a $41.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $48.50.

Read Our Latest Stock Analysis on PLRX

Pliant Therapeutics Trading Up 2.0 %

NASDAQ:PLRX opened at $16.11 on Monday. The company has a market capitalization of $964.99 million, a P/E ratio of -5.77 and a beta of 1.19. The firm has a fifty day simple moving average of $16.92 and a 200-day simple moving average of $16.34. Pliant Therapeutics has a 12 month low of $12.60 and a 12 month high of $32.90. The company has a current ratio of 19.50, a quick ratio of 19.50 and a debt-to-equity ratio of 0.02.

Pliant Therapeutics (NASDAQ:PLRXGet Free Report) last released its earnings results on Thursday, November 9th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.08. Pliant Therapeutics had a negative net margin of 2,872.79% and a negative return on equity of 32.50%. On average, equities research analysts anticipate that Pliant Therapeutics will post -2.88 earnings per share for the current year.

Insider Buying and Selling at Pliant Therapeutics

In other news, insider Hans Hull sold 9,786 shares of Pliant Therapeutics stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $17.23, for a total transaction of $168,612.78. Following the completion of the sale, the insider now directly owns 185,069 shares in the company, valued at $3,188,738.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Pliant Therapeutics news, insider Hans Hull sold 9,786 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $17.23, for a total transaction of $168,612.78. Following the completion of the sale, the insider now owns 185,069 shares in the company, valued at $3,188,738.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Bernard Coulie sold 25,721 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total transaction of $443,172.83. Following the completion of the sale, the chief executive officer now directly owns 316,382 shares of the company’s stock, valued at approximately $5,451,261.86. The disclosure for this sale can be found here. In the last three months, insiders sold 50,485 shares of company stock worth $869,857. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pliant Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in Pliant Therapeutics by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 424,196 shares of the company’s stock valued at $7,682,000 after buying an additional 5,990 shares during the period. Fernwood Investment Management LLC increased its holdings in Pliant Therapeutics by 11.4% in the 4th quarter. Fernwood Investment Management LLC now owns 423,177 shares of the company’s stock valued at $7,664,000 after buying an additional 43,475 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Pliant Therapeutics by 10.2% in the 4th quarter. New York State Common Retirement Fund now owns 55,748 shares of the company’s stock valued at $1,010,000 after purchasing an additional 5,173 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Pliant Therapeutics by 6.4% in 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. Finally, China Universal Asset Management Co. Ltd. boosted its stake 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 valued at $125,000 after purchasing an additional 5,400 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

Pliant Therapeutics Company Profile

(Get Free Report)

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 three Phase IIa trials for idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

Read More

Analyst Recommendations for Pliant Therapeutics (NASDAQ:PLRX)

Receive News & Ratings for Pliant Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pliant Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.