Pliant Therapeutics (NASDAQ:PLRX) Sets New 1-Year Low at $12.35

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $12.35 and last traded at $12.45, with a volume of 15312 shares traded. The stock had previously closed at $12.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their price target on Pliant Therapeutics from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of Pliant Therapeutics in a research report on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a research report on Wednesday, April 10th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $49.00.

Pliant Therapeutics Stock Up 2.7 %

The company has a quick ratio of 17.72, a current ratio of 17.72 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $754.20 million, a P/E ratio of -4.49 and a beta of 1.12. The company has a 50-day moving average of $15.15 and a two-hundred day moving average of $15.67.

Institutional Investors Weigh In On Pliant Therapeutics

Hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Pliant Therapeutics by 97.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock valued at $27,000 after purchasing an additional 754 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Pliant Therapeutics during the fourth quarter valued at approximately $37,000. US Bancorp DE boosted its position in shares of Pliant Therapeutics by 144.3% during the second quarter. US Bancorp DE now owns 2,150 shares of the company’s stock valued at $39,000 after purchasing an additional 1,270 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Pliant Therapeutics by 271.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,449 shares of the company’s stock valued at $44,000 after purchasing an additional 1,790 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Pliant Therapeutics by 94.1% in the second quarter. Osaic Holdings Inc. now owns 2,746 shares of the company’s stock worth $50,000 after acquiring an additional 1,331 shares in the last quarter. 97.30% of the stock is currently owned by institutional investors.

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. 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.