Pliant Therapeutics, Inc. (NASDAQ:PLRX) Given Average Rating of “Buy” by Brokerages

Pliant Therapeutics, Inc. (NASDAQ:PLRX) has earned an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $40.50.

PLRX has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a research report on Friday, November 8th. Leerink Partners began coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $33.00 price target on the stock. Finally, Leerink Partnrs raised Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th.

Pliant Therapeutics Stock Down 0.7 %

Shares of Pliant Therapeutics stock opened at $13.21 on Monday. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09. Pliant Therapeutics has a 1 year low of $10.22 and a 1 year high of $19.62. The stock has a 50-day moving average price of $14.08 and a 200 day moving average price of $12.82. The company has a market cap of $803.88 million, a P/E ratio of -3.96 and a beta of 1.05.

Institutional Trading of Pliant Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Exome Asset Management LLC raised its stake in shares of Pliant Therapeutics by 20.6% in the 3rd quarter. Exome Asset Management LLC now owns 149,600 shares of the company’s stock valued at $1,677,000 after acquiring an additional 25,600 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Pliant Therapeutics by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,039,904 shares of the company’s stock worth $11,657,000 after buying an additional 14,913 shares during the period. Geode Capital Management LLC raised its holdings in Pliant Therapeutics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,318,308 shares of the company’s stock worth $14,781,000 after acquiring an additional 31,221 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Pliant Therapeutics during the 3rd quarter worth $342,000. Finally, Sphera Funds Management LTD. boosted its holdings in Pliant Therapeutics by 15.0% during the third quarter. Sphera Funds Management LTD. now owns 297,362 shares of the company’s stock valued at $3,333,000 after acquiring an additional 38,808 shares during the period. 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.