Pliant Therapeutics (NASDAQ:PLRX) Stock Price Up 3.6% - Should You Buy?

Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) shares shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $14.25 and last traded at $14.21. Approximately 24,354 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 456,045 shares. The stock had previously closed at $13.72.

Analyst Ratings Changes

PLRX has been the topic of several recent analyst reports. Leerink Partners initiated coverage on Pliant Therapeutics in a report on Monday, September 9th. They issued an "outperform" rating and a $33.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target on shares of Pliant Therapeutics in a research note on Friday, November 8th. Finally, Leerink Partnrs upgraded Pliant Therapeutics to a "strong-buy" rating in a report on Monday, September 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Pliant Therapeutics has a consensus rating of "Buy" and an average price target of $40.50.

Pliant Therapeutics Trading Up 4.7 %

The firm has a market cap of $874.41 million, a price-to-earnings ratio of -4.31 and a beta of 1.05. The company has a fifty day moving average price of $13.94 and a 200-day moving average price of $12.78. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09.

Institutional Investors Weigh In On Pliant Therapeutics

Several large investors have recently bought and sold shares of PLRX. The Manufacturers Life Insurance Company grew its holdings in Pliant Therapeutics by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company's stock valued at $897,000 after buying an additional 1,191 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Pliant Therapeutics by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company's stock valued at $131,000 after acquiring an additional 4,607 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pliant Therapeutics by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company's stock worth $3,282,000 after purchasing an additional 5,152 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Pliant Therapeutics during the second quarter worth about $59,000. Finally, Ensign Peak Advisors Inc increased its holdings in Pliant Therapeutics by 39.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 35,368 shares of the company's stock worth $380,000 after purchasing an additional 9,950 shares during the period. 97.30% of the stock is currently owned by hedge funds and other 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.