Pliant Therapeutics’ (PLRX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Pliant Therapeutics (NASDAQ:PLRX) in a report published on Tuesday, Benzinga reports. They currently have a $36.00 target price on the stock.

PLRX has been the subject of several other reports. Needham & Company LLC reiterated a buy rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of Pliant Therapeutics from $50.00 to $54.00 and gave the stock an outperform rating in a report on Tuesday, March 5th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $45.67.

Pliant Therapeutics Price Performance

Shares of Pliant Therapeutics stock opened at $13.79 on Tuesday. 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. The business has a 50-day moving average of $14.32 and a 200-day moving average of $15.41. The company has a market capitalization of $831.81 million, a PE ratio of -4.94 and a beta of 1.19.

Hedge Funds Weigh In On Pliant Therapeutics

Several institutional investors have recently modified their holdings of the company. First Light Asset Management LLC grew its position in Pliant Therapeutics by 22.4% in 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 last quarter. Laurion Capital Management LP increased its position in Pliant Therapeutics by 0.9% in the 3rd quarter. Laurion Capital Management LP now owns 3,186,511 shares of the company’s stock valued at $55,254,000 after acquiring an additional 27,941 shares during the period. Vanguard Group Inc. increased its position in Pliant Therapeutics by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,945,312 shares of the company’s stock valued at $51,072,000 after acquiring an additional 168,454 shares during the period. Great Point Partners LLC raised its stake in Pliant Therapeutics by 3.9% during the 4th quarter. Great Point Partners LLC now owns 1,823,184 shares of the company’s stock valued at $33,018,000 after acquiring an additional 68,000 shares in the last quarter. Finally, Polar Capital Holdings Plc grew its stake in shares of Pliant Therapeutics by 1.5% in the third quarter. Polar Capital Holdings Plc now owns 1,665,000 shares of the company’s stock worth $28,871,000 after purchasing an additional 25,000 shares in the last quarter. 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.