Pliant Therapeutics (NASDAQ:PLRX) PT Lowered to $44.00

Pliant Therapeutics (NASDAQ:PLRX) had its price target decreased by equities research analysts at Citigroup from $45.00 to $44.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 228.11% from the stock’s previous close.

PLRX has been the subject of a number of other reports. Royal Bank of Canada dropped their price target on Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of Pliant Therapeutics in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a report on Tuesday. Finally, Oppenheimer increased their price objective on shares of Pliant Therapeutics from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $45.67.

Pliant Therapeutics Stock Performance

NASDAQ PLRX opened at $13.41 on Tuesday. Pliant Therapeutics has a 1-year low of $11.21 and a 1-year high of $24.74. The company has a 50 day moving average of $14.25 and a 200-day moving average of $15.41. The company has a current ratio of 17.72, a quick ratio of 17.72 and a debt-to-equity ratio of 0.02. The firm has a market cap of $808.89 million, a price-to-earnings ratio of -4.81 and a beta of 1.19.

Institutional Trading of Pliant Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in shares of Pliant Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock valued at $216,000 after purchasing an additional 1,203 shares during the last quarter. SG Americas Securities LLC bought a new position in Pliant Therapeutics in the first quarter valued at approximately $107,000. China Universal Asset Management Co. Ltd. grew its holdings in Pliant Therapeutics by 67.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock worth $173,000 after acquiring an additional 4,652 shares during the period. HighMark Wealth Management LLC raised its position in shares of Pliant Therapeutics by 80.9% during the 1st quarter. HighMark Wealth Management LLC now owns 42,500 shares of the company’s stock valued at $633,000 after acquiring an additional 19,000 shares during the last quarter. Finally, Mass General Brigham Inc acquired a new position in shares of Pliant Therapeutics in the 1st quarter valued at $4,301,000. 97.30% of the stock is 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.