Pliant Therapeutics (NASDAQ:PLRX) Price Target Lowered to $3.00 at Wells Fargo & Company

Pliant Therapeutics (NASDAQ:PLRX) had its price target cut by analysts at Wells Fargo & Company from $4.00 to $3.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 117.39% from the company’s previous close.

PLRX has been the topic of a number of other research reports. Leerink Partners downgraded shares of Pliant Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $33.00 to $2.00 in a research note on Monday. Canaccord Genuity Group reiterated a “hold” rating and set a $4.00 target price (down from $43.00) on shares of Pliant Therapeutics in a research report on Monday, February 10th. Needham & Company LLC reissued a “hold” rating and issued a $10.00 target price on shares of Pliant Therapeutics in a research note on Tuesday. Royal Bank of Canada cut shares of Pliant Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $45.00 to $4.00 in a research note on Monday, February 10th. Finally, Citigroup lowered Pliant Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $4.00 in a research note on Monday, February 10th. Ten analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.75.

Pliant Therapeutics Stock Down 59.9 %

NASDAQ PLRX opened at $1.38 on Tuesday. Pliant Therapeutics has a twelve month low of $1.37 and a twelve month high of $16.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. The stock has a market cap of $83.98 million, a PE ratio of -0.41 and a beta of 1.03. The firm has a 50-day simple moving average of $9.08 and a 200 day simple moving average of $11.81.

Pliant Therapeutics (NASDAQ:PLRX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.17. On average, research analysts forecast that Pliant Therapeutics will post -3.64 EPS for the current year.

Insider Transactions at Pliant Therapeutics

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 10,230 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $10.99, for a total value of $112,427.70. Following the transaction, the general counsel now owns 70,544 shares of the company’s stock, valued at approximately $775,278.56. The trade was a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bernard Coulie sold 52,419 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $11.20, for a total value of $587,092.80. Following the sale, the chief executive officer now owns 430,517 shares in the company, valued at $4,821,790.40. The trade was a 10.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,855 shares of company stock valued at $1,026,628. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Paradigm Biocapital Advisors LP increased its position in Pliant Therapeutics by 3.0% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,197,050 shares of the company’s stock valued at $42,105,000 after acquiring an additional 92,564 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Pliant Therapeutics by 66.3% during the fourth quarter. Deutsche Bank AG now owns 2,551,865 shares of the company’s stock valued at $33,608,000 after purchasing an additional 1,017,500 shares during the last quarter. State Street Corp increased its holdings in shares of Pliant Therapeutics by 1.9% in the third quarter. State Street Corp now owns 1,402,730 shares of the company’s stock valued at $15,725,000 after purchasing an additional 26,610 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pliant Therapeutics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,318,308 shares of the company’s stock valued at $14,781,000 after purchasing an additional 31,221 shares in the last quarter. Finally, Silverarc Capital Management LLC bought a new position in Pliant Therapeutics in the 4th quarter worth approximately $17,326,000. 97.30% of the stock is owned by institutional investors.

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.