Analysts Set Pliant Therapeutics, Inc. (NASDAQ:PLRX) PT at $49.00

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have received an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $49.00.

PLRX has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a research note on Wednesday, April 10th. Royal Bank of Canada raised their price target on Pliant Therapeutics from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of Pliant Therapeutics in a research note on Wednesday, February 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Pliant Therapeutics by 141.1% in the 2nd quarter. BlackRock Inc. now owns 4,406,820 shares of the company’s stock valued at $79,852,000 after purchasing an additional 2,578,692 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Pliant Therapeutics by 13.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,785,916 shares of the company’s stock valued at $68,564,000 after buying an additional 434,429 shares in the last quarter. First Light Asset Management LLC boosted its stake in shares of Pliant Therapeutics by 22.4% in the fourth quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock valued at $65,047,000 after buying an additional 658,516 shares in the last quarter. Laurion Capital Management LP boosted its stake in shares of Pliant Therapeutics by 0.9% in the third quarter. Laurion Capital Management LP now owns 3,186,511 shares of the company’s stock valued at $55,254,000 after buying an additional 27,941 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Pliant Therapeutics by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 3,065,869 shares of the company’s stock valued at $55,523,000 after buying an additional 120,557 shares in the last quarter. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

Pliant Therapeutics Price Performance

Shares of NASDAQ PLRX opened at $12.52 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72. Pliant Therapeutics has a fifty-two week low of $12.00 and a fifty-two week high of $30.85. The firm has a market capitalization of $754.20 million, a PE ratio of -4.49 and a beta of 1.12. The stock’s 50-day simple moving average is $15.15 and its 200-day simple moving average is $15.67.

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.