Pliant Therapeutics (NASDAQ:PLRX) Given New $1.50 Price Target at Citigroup

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) had its price objective lowered by equities researchers at Citigroup from $4.00 to $1.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective suggests a potential downside of 1.32% from the stock's previous close.

Several other equities analysts also recently weighed in on the company. Canaccord Genuity Group restated a "hold" rating and issued a $4.00 target price (down previously from $43.00) on shares of Pliant Therapeutics in a research report on Monday, February 10th. Cantor Fitzgerald restated a "neutral" rating on shares of Pliant Therapeutics in a research report on Tuesday. Stifel Nicolaus downgraded Pliant Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday. HC Wainwright restated a "neutral" rating on shares of Pliant Therapeutics in a research report on Tuesday. Finally, Oppenheimer restated a "market perform" rating on shares of Pliant Therapeutics in a research report on Monday, February 10th. Twelve investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $13.31.

Pliant Therapeutics Price Performance

PLRX stock traded up $0.17 during mid-day trading on Tuesday, reaching $1.52. 8,306,307 shares of the company's stock were exchanged, compared to its average volume of 844,338. The company has a market cap of $92.50 million, a price-to-earnings ratio of -0.46 and a beta of 1.03. The stock's 50 day moving average is $8.60 and its 200 day moving average is $11.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26. Pliant Therapeutics has a 12-month low of $1.27 and a 12-month high of $16.52.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.99) by $0.17. On average, research analysts expect that Pliant Therapeutics will post -3.64 EPS for the current year.

Insider Buying and Selling

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 13,270 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $11.20, for a total transaction of $148,624.00. Following the completion of the sale, the general counsel now owns 80,774 shares of the company's stock, valued at $904,668.80. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bernard Coulie sold 52,419 shares of the firm's 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 directly owns 430,517 shares of the company's stock, valued at approximately $4,821,790.40. This trade represents a 10.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,855 shares of company stock worth $1,026,628. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pliant Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. acquired a new stake in Pliant Therapeutics during the fourth quarter worth $14,761,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Pliant Therapeutics by 18.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,574 shares of the company's stock valued at $1,838,000 after buying an additional 21,637 shares in the last quarter. Woodline Partners LP grew its stake in shares of Pliant Therapeutics by 14.0% in the fourth quarter. Woodline Partners LP now owns 127,295 shares of the company's stock valued at $1,676,000 after buying an additional 15,635 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Pliant Therapeutics by 31.8% in the fourth quarter. ProShare Advisors LLC now owns 18,931 shares of the company's stock valued at $249,000 after buying an additional 4,570 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP grew its stake in shares of Pliant Therapeutics by 3.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 3,197,050 shares of the company's stock valued at $42,105,000 after buying an additional 92,564 shares in the last quarter. Institutional investors and hedge funds own 97.30% of the company's stock.

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.