Pliant Therapeutics, Inc. (NASDAQ:PLRX) Receives Consensus Rating of “Buy” from Analysts

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

Several equities analysts recently issued reports on PLRX shares. Leerink Partners assumed coverage on Pliant Therapeutics in a research report on Monday, September 9th. They issued an “outperform” rating and a $33.00 price objective on the stock. Oppenheimer decreased their target price on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Friday, September 13th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th.

Pliant Therapeutics Stock Up 1.1 %

Pliant Therapeutics stock opened at $11.24 on Wednesday. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $12.51 and a 200-day moving average of $12.70. Pliant Therapeutics has a 1-year low of $10.22 and a 1-year high of $19.62.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Wednesday, August 7th. The company reported ($0.92) earnings per share 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.

Hedge Funds Weigh In On Pliant Therapeutics

Hedge funds have recently modified their holdings of the stock. 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 worth $65,047,000 after buying an additional 658,516 shares during the last quarter. Granahan Investment Management LLC lifted its position in Pliant Therapeutics by 22.5% in the fourth quarter. Granahan Investment Management LLC now owns 1,150,766 shares of the company’s stock valued at $20,840,000 after buying an additional 211,557 shares during the last quarter. Great Point Partners LLC grew its position in Pliant Therapeutics by 3.9% in the 4th quarter. Great Point Partners LLC now owns 1,823,184 shares of the company’s stock valued at $33,018,000 after acquiring an additional 68,000 shares in the last quarter. Mass General Brigham Inc acquired a new stake in Pliant Therapeutics in the 1st quarter valued at about $4,301,000. Finally, HighMark Wealth Management LLC lifted its holdings in Pliant Therapeutics by 80.9% during the 1st quarter. HighMark Wealth Management LLC now owns 42,500 shares of the company’s stock worth $633,000 after buying an additional 19,000 shares during the last quarter. Institutional investors and hedge funds own 97.30% of the company’s stock.

About Pliant Therapeutics

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.