Pliant Therapeutics, Inc. (NASDAQ:PLRX) Receives $40.57 Average Target Price from Brokerages

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) have been given a consensus rating of "Buy" by the nine brokerages that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $40.57.

Several research firms have recently issued reports on PLRX. HC Wainwright reiterated a "buy" rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Oppenheimer dropped 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. Leerink Partners initiated coverage on shares of Pliant Therapeutics in a report on Monday, September 9th. They set an "outperform" rating and a $33.00 price objective for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Thursday, August 8th.

Pliant Therapeutics Price Performance

PLRX traded up $0.19 on Thursday, hitting $13.53. 333,273 shares of the company's stock traded hands, compared to its average volume of 458,086. Pliant Therapeutics has a one year low of $10.22 and a one year high of $19.62. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09. The firm has a market cap of $823.35 million, a price-to-earnings ratio of -4.05 and a beta of 1.08. The company's 50 day simple moving average is $13.20 and its 200-day simple moving average is $12.76.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Pliant Therapeutics by 4.6% in 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 last quarter. Vanguard Group Inc. lifted its stake in Pliant Therapeutics by 13.5% in the first quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company's stock worth $51,827,000 after purchasing an additional 412,486 shares during the last quarter. Great Point Partners LLC lifted its stake in Pliant Therapeutics by 42.4% in the second quarter. Great Point Partners LLC now owns 2,636,864 shares of the company's stock worth $28,346,000 after purchasing an additional 785,000 shares during the last quarter. State Street Corp lifted its stake in Pliant Therapeutics by 1.9% in the third quarter. State Street Corp now owns 1,402,730 shares of the company's stock worth $15,725,000 after purchasing an additional 26,610 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Pliant Therapeutics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,318,308 shares of the company's stock worth $14,781,000 after purchasing an additional 31,221 shares during 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.