Pliant Therapeutics (NASDAQ:PLRX) Stock Price Up 8.7%

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price traded up 8.7% during trading on Thursday . The stock traded as high as $12.34 and last traded at $12.05. 364,900 shares changed hands during trading, a decline of 21% from the average session volume of 460,514 shares. The stock had previously closed at $11.09.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a report on Tuesday, May 7th. Royal Bank of Canada dropped their target price on shares of Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of Pliant Therapeutics in a report on Friday, June 7th. Citigroup dropped their price objective on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, Oppenheimer raised their target price on Pliant Therapeutics from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $45.38.

Pliant Therapeutics Trading Up 12.7 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 16.12 and a quick ratio of 16.12. The company’s 50-day moving average is $12.29 and its two-hundred day moving average is $14.60.

Pliant Therapeutics (NASDAQ:PLRX) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.02). As a group, sell-side analysts expect that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Institutional Trading of Pliant Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC raised its stake in shares of Pliant Therapeutics by 22.4% during the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock worth $65,047,000 after purchasing an additional 658,516 shares during the period. Capital International Investors raised its position in Pliant Therapeutics by 50.9% in the first quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock worth $20,522,000 after acquiring an additional 464,860 shares during the period. Vanguard Group Inc. boosted 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 valued at $51,827,000 after acquiring an additional 412,486 shares during the last quarter. Redmile Group LLC grew its position in shares of Pliant Therapeutics by 14.9% during the 1st quarter. Redmile Group LLC now owns 3,097,220 shares of the company’s stock valued at $46,149,000 after acquiring an additional 400,572 shares during the period. Finally, Mass General Brigham Inc purchased a new stake in shares of Pliant Therapeutics during the 1st quarter worth approximately $4,301,000. Hedge funds and other 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.