Pliant Therapeutics (NASDAQ:PLRX) Price Target Cut to $58.00

Pliant Therapeutics (NASDAQ:PLRX – Get Rating) had its price target decreased by equities researchers at Royal Bank of Canada from $60.00 to $58.00 in a research note issued to investors on Friday, The Fly reports. Royal Bank of Canada’s target price suggests a potential upside of 107.29% from the stock’s previous close.

A number of other research analysts also recently commented on PLRX. Cantor Fitzgerald lifted their price objective on shares of Pliant Therapeutics from $40.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Pliant Therapeutics from $42.00 to $51.00 in a report on Monday, January 23rd. Stifel Nicolaus initiated coverage on shares of Pliant Therapeutics in a research note on Tuesday, December 13th. They issued a “buy” rating and a $33.00 price objective on the stock. SVB Leerink increased their target price on shares of Pliant Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 24th. Finally, Citigroup upped their price objective on shares of Pliant Therapeutics from $36.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Pliant Therapeutics presently has an average rating of “Buy” and a consensus price target of $48.00.

Pliant Therapeutics Price Performance

PLRX opened at $27.98 on Friday. Pliant Therapeutics has a one year low of $3.96 and a one year high of $36.64. The stock has a market capitalization of $1.36 billion, a P/E ratio of -9.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 13.99 and a quick ratio of 13.99. The company’s 50 day simple moving average is $28.68 and its 200-day simple moving average is $23.61.

Insider Activity at Pliant Therapeutics

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 4,719 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $19.10, for a total value of $90,132.90. Following the completion of the sale, the general counsel now owns 8,875 shares of the company’s stock, valued at $169,512.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Bernard Coulie sold 34,212 shares of the company’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $19.10, for a total value of $653,449.20. Following the completion of the sale, the chief executive officer now directly owns 93,812 shares of the company’s stock, valued at approximately $1,791,809.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mike Ouimette sold 4,719 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $19.10, for a total value of $90,132.90. Following the transaction, the general counsel now directly owns 8,875 shares of the company’s stock, valued at $169,512.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,889 shares of company stock worth $7,945,700. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Pliant Therapeutics

Several hedge funds have recently made changes to their positions in PLRX. UNC Management Company Inc. bought a new stake in Pliant Therapeutics in the third quarter valued at about $1,049,000. Delphia USA Inc. acquired a new stake in Pliant Therapeutics during the 2nd quarter valued at $138,000. Blackstone Inc. purchased a new position in shares of Pliant Therapeutics during the 3rd quarter valued at $210,000. Quantamental Technologies LLC purchased a new position in shares of Pliant Therapeutics during the 3rd quarter valued at $341,000. Finally, Bessemer Group Inc. boosted its holdings in Pliant Therapeutics by 9.7% in the third quarter. Bessemer Group Inc. now owns 589,266 shares of the company’s stock worth $12,310,000 after purchasing an additional 51,887 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

About Pliant Therapeutics

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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 avß6 and avß1 integrins, which is in three Phase 2a trials.