Pliant Therapeutics, Inc. (NASDAQ:PLRX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have earned an average rating of “Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.50.

Several equities research analysts have recently issued reports on PLRX shares. Leerink Partners initiated coverage on shares of Pliant Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $33.00 target price for the company. Leerink Partnrs raised shares of Pliant Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Friday, November 8th.

Pliant Therapeutics Stock Performance

NASDAQ:PLRX opened at $13.56 on Monday. The firm has a market capitalization of $825.18 million, a PE ratio of -4.06 and a beta of 1.05. The stock’s fifty day moving average is $13.98 and its 200 day moving average is $12.88. Pliant Therapeutics has a fifty-two week low of $10.22 and a fifty-two week high of $19.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26.

Institutional Trading of Pliant Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in Pliant Therapeutics by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company’s stock worth $897,000 after purchasing an additional 1,191 shares during the period. China Universal Asset Management Co. Ltd. increased its stake 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 buying an additional 4,607 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Pliant Therapeutics by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock valued at $3,282,000 after acquiring an additional 5,152 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Pliant Therapeutics in the second quarter worth about $59,000. Finally, Ensign Peak Advisors Inc grew 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 acquiring an additional 9,950 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

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.