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

Pliant Therapeutics (NASDAQ:PLRX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $36.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 168.46% from the stock’s current price.

Other analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Tuesday. Royal Bank of Canada raised 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. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $45.67.

Pliant Therapeutics Price Performance

NASDAQ:PLRX opened at $13.41 on Tuesday. The firm has a market cap of $808.89 million, a price-to-earnings ratio of -4.81 and a beta of 1.19. Pliant Therapeutics has a 12-month low of $11.21 and a 12-month high of $24.74. 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 company’s 50-day moving average is $14.25 and its two-hundred day moving average is $15.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its stake in shares of Pliant Therapeutics by 165.3% in the 3rd quarter. Barclays PLC now owns 244,266 shares of the company’s stock valued at $4,236,000 after acquiring an additional 152,190 shares during the period. UBS Group AG grew its stake in shares of Pliant Therapeutics by 8,855.2% in the third quarter. UBS Group AG now owns 270,804 shares of the company’s stock valued at $4,696,000 after buying an additional 267,780 shares in the last quarter. Silverarc Capital Management LLC raised its holdings in shares of Pliant Therapeutics by 133.4% during the 3rd quarter. Silverarc Capital Management LLC now owns 250,409 shares of the company’s stock valued at $4,342,000 after buying an additional 143,142 shares during the period. Profund Advisors LLC purchased a new stake in shares of Pliant Therapeutics during the 3rd quarter valued at about $215,000. Finally, Corton Capital Inc. purchased a new position in Pliant Therapeutics in the 3rd quarter worth approximately $197,000. 97.30% of the stock is owned by institutional investors and hedge funds.

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.