Pliant Therapeutics (NASDAQ:PLRX) PT Lowered to $48.00

Pliant Therapeutics (NASDAQ:PLRXGet Free Report) had its price objective dropped by research analysts at HC Wainwright from $52.00 to $48.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 197.95% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Pliant Therapeutics from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Leerink Partnrs reissued an “outperform” rating on shares of Pliant Therapeutics in a research report on Monday, October 16th. Finally, Wells Fargo & Company started coverage on shares of Pliant Therapeutics in a report on Friday, December 8th. They issued an “overweight” rating and a $41.00 price target on the stock. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Pliant Therapeutics has a consensus rating of “Buy” and a consensus target price of $48.50.

View Our Latest Stock Analysis on Pliant Therapeutics

Pliant Therapeutics Stock Up 2.0 %

Shares of NASDAQ PLRX opened at $16.11 on Monday. The company has a quick ratio of 19.50, a current ratio of 19.50 and a debt-to-equity ratio of 0.02. Pliant Therapeutics has a 52 week low of $12.60 and a 52 week high of $32.90. The firm has a 50-day moving average price of $16.92 and a 200 day moving average price of $16.34. The stock has a market capitalization of $964.99 million, a price-to-earnings ratio of -5.77 and a beta of 1.19.

Pliant Therapeutics (NASDAQ:PLRXGet Free Report) last posted its earnings results on Thursday, November 9th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.08. Pliant Therapeutics had a negative net margin of 2,872.79% and a negative return on equity of 32.50%. Equities research analysts anticipate that Pliant Therapeutics will post -2.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 5,197 shares of Pliant Therapeutics stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $17.23, for a total value of $89,544.31. Following the sale, the general counsel now directly owns 55,246 shares in the company, valued at approximately $951,888.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Mike Ouimette sold 5,197 shares of Pliant Therapeutics stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $17.23, for a total transaction of $89,544.31. Following the completion of the sale, the general counsel now owns 55,246 shares of the company’s stock, valued at approximately $951,888.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bernard Coulie sold 25,721 shares of Pliant Therapeutics stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total transaction of $443,172.83. Following the completion of the sale, the chief executive officer now owns 316,382 shares of the company’s stock, valued at approximately $5,451,261.86. The disclosure for this sale can be found here. Insiders have sold a total of 50,485 shares of company stock worth $869,857 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Pliant Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Pliant Therapeutics by 141.1% during the 2nd quarter. BlackRock Inc. now owns 4,406,820 shares of the company’s stock worth $79,852,000 after acquiring an additional 2,578,692 shares during the last quarter. Deep Track Capital LP raised its stake in Pliant Therapeutics by 18.3% in the second quarter. Deep Track Capital LP now owns 4,050,000 shares of the company’s stock valued at $73,386,000 after purchasing an additional 627,943 shares in the last quarter. Laurion Capital Management LP raised its stake in shares of Pliant Therapeutics by 0.9% during the third quarter. Laurion Capital Management LP now owns 3,186,511 shares of the company’s stock worth $55,254,000 after acquiring an additional 27,941 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pliant Therapeutics by 6.1% in the third quarter. Vanguard Group Inc. now owns 2,945,312 shares of the company’s stock worth $51,072,000 after buying an additional 168,454 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Pliant Therapeutics by 74.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,106,244 shares of the company’s stock worth $56,027,000 after buying an additional 900,510 shares during the period. 97.30% of the stock is owned by institutional investors.

Pliant Therapeutics Company Profile

(Get Free Report)

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 three Phase IIa trials for idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

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