Pliant Therapeutics (NASDAQ:PLRX) Reaches New 52-Week Low at $10.29

Pliant Therapeutics, Inc. (NASDAQ:PLRXGet Free Report)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $10.29 and last traded at $10.40, with a volume of 31026 shares changing hands. The stock had previously closed at $10.58.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a research note on Tuesday, May 7th. Royal Bank of Canada reduced their price objective on Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Oppenheimer raised their target price on Pliant Therapeutics from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Pliant Therapeutics in a research report on Friday, June 7th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Pliant Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $45.38.

Read Our Latest Stock Analysis on Pliant Therapeutics

Pliant Therapeutics Stock Performance

The firm’s 50 day simple moving average is $12.36 and its 200 day simple moving average is $14.72. The company has a quick ratio of 16.12, a current ratio of 16.12 and a debt-to-equity ratio of 0.07.

Pliant Therapeutics (NASDAQ:PLRXGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.02). As a group, equities analysts expect that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pliant Therapeutics

Several large investors have recently modified their holdings of the stock. First Light Asset Management LLC boosted its stake in shares of Pliant Therapeutics by 22.4% during the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock worth $65,047,000 after purchasing an additional 658,516 shares during the period. Capital International Investors boosted its position in shares of Pliant Therapeutics by 50.9% during the first quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock valued at $20,522,000 after buying an additional 464,860 shares during the period. Vanguard Group Inc. grew its stake in shares of Pliant Therapeutics by 13.5% during the first quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock valued at $51,827,000 after buying an additional 412,486 shares during the last quarter. Redmile Group LLC raised its holdings in shares of Pliant Therapeutics by 14.9% in the first quarter. Redmile Group LLC now owns 3,097,220 shares of the company’s stock worth $46,149,000 after buying an additional 400,572 shares during the period. Finally, Mass General Brigham Inc bought a new stake in shares of Pliant Therapeutics during the 1st quarter worth approximately $4,301,000. Institutional investors own 97.30% of the company’s stock.

About Pliant Therapeutics

(Get Free Report)

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.

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