Pliant Therapeutics (NASDAQ:PLRX) Price Target Raised to $48.00 at Oppenheimer

Pliant Therapeutics (NASDAQ:PLRX) had its price target boosted by Oppenheimer from $47.00 to $48.00 in a report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on PLRX. Royal Bank of Canada boosted their price objective on Pliant Therapeutics from $50.00 to $54.00 and gave the company an outperform rating in a research note on Tuesday, March 5th. HC Wainwright reiterated a buy rating and issued a $36.00 price objective on shares of Pliant Therapeutics in a research note on Tuesday. Finally, Needham & Company LLC restated a buy rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and an average price target of $45.67.

Pliant Therapeutics Stock Performance

NASDAQ:PLRX opened at $13.79 on Tuesday. The company has a market capitalization of $831.81 million, a P/E ratio of -4.94 and a beta of 1.19. The business has a fifty day simple moving average of $14.32 and a two-hundred day simple moving average of $15.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 17.72 and a quick ratio of 17.72. Pliant Therapeutics has a 1 year low of $11.21 and a 1 year high of $24.74.

Institutional Trading of Pliant Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PLRX. China Universal Asset Management Co. Ltd. grew its stake in Pliant Therapeutics by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock worth $27,000 after buying an additional 754 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Pliant Therapeutics during the 4th quarter worth $37,000. SG Americas Securities LLC purchased a new position in shares of Pliant Therapeutics in the 1st quarter worth about $107,000. Corton Capital Inc. purchased a new position in shares of Pliant Therapeutics during the 3rd quarter valued at about $197,000. Finally, Rathbones Group PLC purchased a new position in shares of Pliant Therapeutics during the 3rd quarter valued at about $203,000. 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.