Pliant Therapeutics (NASDAQ:PLRX) Trading 3.6% Higher – Still a Buy?

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s stock price traded up 3.6% during trading on Tuesday . The stock traded as high as $14.25 and last traded at $14.21. 24,354 shares were traded during trading, a decline of 95% from the average session volume of 456,045 shares. The stock had previously closed at $13.72.

Analysts Set New Price Targets

PLRX has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a report on Friday, November 8th. Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Finally, Leerink Partners began coverage on Pliant Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $33.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pliant Therapeutics presently has an average rating of “Buy” and an average target price of $40.50.

Pliant Therapeutics Stock Performance

The company has a 50-day simple moving average of $13.94 and a two-hundred day simple moving average of $12.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. The firm has a market capitalization of $876.24 million, a P/E ratio of -4.11 and a beta of 1.05.

Institutional Investors Weigh In On Pliant Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLRX. Great Point Partners LLC lifted its position in Pliant Therapeutics by 42.4% during the second 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 during the period. State Street Corp raised its position in shares of Pliant Therapeutics by 1.9% in the 3rd 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. Geode Capital Management LLC boosted its stake in Pliant Therapeutics by 2.4% in the 3rd 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 in the last quarter. Franklin Resources Inc. grew its position in Pliant Therapeutics by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,039,904 shares of the company’s stock valued at $11,657,000 after purchasing an additional 14,913 shares during the last quarter. Finally, Candriam S.C.A. increased its stake in Pliant Therapeutics by 52.0% during the 2nd quarter. Candriam S.C.A. now owns 833,216 shares of the company’s stock valued at $8,957,000 after purchasing an additional 285,216 shares in the last quarter. 97.30% of the stock is 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.