HC Wainwright Reiterates "Buy" Rating for Pliant Therapeutics (NASDAQ:PLRX)

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $38.00 price objective on the stock. HC Wainwright's target price would suggest a potential upside of 153.33% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 price target on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Leerink Partners began coverage on Pliant Therapeutics in a research report on Monday, September 9th. They set an "outperform" rating and a $33.00 target price for the company. Leerink Partnrs raised Pliant Therapeutics to a "strong-buy" rating in a research note on Monday, September 9th. Cantor Fitzgerald restated an "overweight" rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Finally, Oppenheimer cut their price objective on shares of Pliant Therapeutics from $48.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $40.57.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX traded down $0.19 during mid-day trading on Friday, reaching $15.00. 404,401 shares of the company traded hands, compared to its average volume of 450,043. The company's 50 day moving average price is $13.00 and its 200-day moving average price is $12.71. The firm has a market cap of $912 million, a PE ratio of -4.83 and a beta of 1.08. Pliant Therapeutics has a 52 week low of $10.22 and a 52 week high of $19.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 14.47 and a quick ratio of 14.47.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) earnings per share (EPS) 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 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Pliant Therapeutics during the second quarter valued at $59,000. SG Americas Securities LLC bought a new stake in shares of Pliant Therapeutics in the 1st quarter worth about $107,000. Atria Investments Inc purchased a new stake in shares of Pliant Therapeutics during the 3rd quarter valued at about $112,000. Deerfield Management Company L.P. Series C bought a new position in shares of Pliant Therapeutics in the 2nd quarter valued at about $126,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Pliant Therapeutics by 65.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company's stock worth $131,000 after acquiring an additional 4,607 shares in the last quarter. 97.30% of the stock is currently 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.