Pliant Therapeutics, Inc. (NASDAQ:PLRX) Receives $50.20 Consensus Target Price from Analysts

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have received an average rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $48.17.

Several equities analysts have commented on PLRX shares. HC Wainwright initiated coverage on shares of Pliant Therapeutics in a research note on Wednesday, November 3rd. They set a “buy” rating and a $45.00 target price on the stock. Zacks Investment Research downgraded shares of Pliant Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, November 13th. Royal Bank of Canada started coverage on shares of Pliant Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $38.00 target price on the stock. Finally, Needham & Company LLC assumed coverage on shares of Pliant Therapeutics in a report on Tuesday, August 10th. They set a “buy” rating and a $40.00 price target for the company.

Hedge funds have recently added to or reduced their stakes in the stock. Fernwood Investment Management LLC acquired a new stake in Pliant Therapeutics during the second quarter worth about $4,410,000. Vanguard Group Inc. lifted its stake in Pliant Therapeutics by 15.3% during the second quarter. Vanguard Group Inc. now owns 1,271,656 shares of the company’s stock worth $37,030,000 after purchasing an additional 168,971 shares during the period. Alliancebernstein L.P. lifted its stake in Pliant Therapeutics by 4.7% during the second quarter. Alliancebernstein L.P. now owns 24,300 shares of the company’s stock worth $708,000 after purchasing an additional 1,100 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Pliant Therapeutics by 36.9% in the second quarter. Nuveen Asset Management LLC now owns 109,937 shares of the company’s stock valued at $3,201,000 after acquiring an additional 29,660 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Pliant Therapeutics by 1.3% in the second quarter. State Street Corp now owns 385,008 shares of the company’s stock valued at $11,211,000 after acquiring an additional 4,759 shares during the last quarter. 85.42% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PLRX traded up $0.71 during mid-day trading on Thursday, hitting $15.02. The stock had a trading volume of 418,869 shares, compared to its average volume of 132,247. The stock has a market capitalization of $541.31 million, a price-to-earnings ratio of -5.84 and a beta of 1.00. The company has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $22.42. Pliant Therapeutics has a 52 week low of $13.81 and a 52 week high of $43.92.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Tuesday, November 9th. The company reported ($0.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.06). Pliant Therapeutics had a negative net margin of 914.12% and a negative return on equity of 36.28%. Equities research analysts anticipate that Pliant Therapeutics will post -2.73 EPS for the current year.

About Pliant Therapeutics

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. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avÃ6 and avÃ1 integrins, which is in Phase II single ascending dose/multiple ascending dose trails and completed Phase Ib proof-of-mechanism trials for the treatment of idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

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Analyst Recommendations for Pliant Therapeutics (NASDAQ:PLRX)

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