Pliant Therapeutics (NASDAQ:PLRX) Trading 4.5% Higher - Still a Buy?

Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) shares were up 4.5% during trading on Wednesday . The stock traded as high as $11.84 and last traded at $11.75. Approximately 68,188 shares traded hands during trading, a decline of 85% from the average daily volume of 451,768 shares. The stock had previously closed at $11.24.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $38.00 price target on shares of Pliant Therapeutics in a report on Thursday, August 8th. Oppenheimer cut their price objective on Pliant Therapeutics from $48.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. HC Wainwright restated a "buy" rating and set a $38.00 target price on shares of Pliant Therapeutics in a report on Friday, September 13th. Leerink Partnrs upgraded Pliant Therapeutics to a "strong-buy" rating in a report on Monday, September 9th. Finally, Leerink Partners started coverage on Pliant Therapeutics in a research report on Monday, September 9th. They set an "outperform" rating and a $33.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pliant Therapeutics has a consensus rating of "Buy" and an average price target of $40.57.

Pliant Therapeutics Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 14.47 and a quick ratio of 14.47. The business's 50-day moving average price is $12.45 and its two-hundred day moving average price is $12.67.

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 analysts' consensus estimates of ($0.85) by ($0.07). Research analysts anticipate that Pliant Therapeutics, Inc. will post -3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Pliant Therapeutics by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,959,088 shares of the company's stock worth $58,991,000 after purchasing an additional 173,172 shares during the period. First Light Asset Management LLC grew its position in Pliant Therapeutics by 22.4% in the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company's stock valued at $65,047,000 after purchasing an additional 658,516 shares during the period. Vanguard Group Inc. boosted its holdings in Pliant Therapeutics by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company's stock worth $51,827,000 after acquiring an additional 412,486 shares during the last quarter. Redmile Group LLC boosted its position in Pliant Therapeutics by 14.9% during the first quarter. Redmile Group LLC now owns 3,097,220 shares of the company's stock worth $46,149,000 after purchasing an additional 400,572 shares during the period. Finally, Great Point Partners LLC grew its stake in Pliant Therapeutics by 42.4% in the 2nd quarter. Great Point Partners LLC now owns 2,636,864 shares of the company's stock valued at $28,346,000 after buying an additional 785,000 shares in the last quarter. Institutional investors 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.