Pliant Therapeutics, Inc. (NASDAQ:PLRX) Given Consensus Rating of "Buy" by Analysts

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) have been assigned a consensus rating of "Buy" from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $40.57.

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

Pliant Therapeutics Price Performance

Shares of Pliant Therapeutics stock traded up $0.24 during trading on Wednesday, hitting $11.48. 236,257 shares of the company's stock traded hands, compared to its average volume of 452,630. Pliant Therapeutics has a 1 year low of $10.22 and a 1 year high of $19.62. The business has a 50-day simple moving average of $12.45 and a 200-day simple moving average of $12.67. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.08.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.07). As a group, sell-side analysts anticipate that Pliant Therapeutics will post -3.71 earnings per share for the current year.

Institutional Trading of Pliant Therapeutics

Several hedge funds have recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Pliant Therapeutics in the 2nd quarter valued at about $59,000. SG Americas Securities LLC purchased a new position in shares of Pliant Therapeutics in the 1st quarter worth approximately $107,000. Deerfield Management Company L.P. Series C bought a new position in shares of Pliant Therapeutics during the 2nd quarter valued at approximately $126,000. China Universal Asset Management Co. Ltd. raised its holdings in Pliant Therapeutics by 67.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company's stock valued at $173,000 after buying an additional 4,652 shares during the period. Finally, ProShare Advisors LLC lifted its position in Pliant Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company's stock worth $216,000 after buying an additional 1,203 shares during the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

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.