Pliant Therapeutics (NASDAQ:PLRX) Shares Gap Up to $10.52

Pliant Therapeutics, Inc. (NASDAQ:PLRXGet Free Report)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $10.52, but opened at $11.01. Pliant Therapeutics shares last traded at $11.21, with a volume of 120,568 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Oppenheimer lifted their price objective on Pliant Therapeutics from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of Pliant Therapeutics in a report on Friday, June 7th. Citigroup reduced their target price 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 reissued a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a report on Tuesday, May 7th. Finally, Royal Bank of Canada decreased their price objective on Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Pliant Therapeutics presently has an average rating of “Buy” and an average price target of $45.38.

Get Our Latest Report on Pliant Therapeutics

Pliant Therapeutics Stock Up 7.0 %

The company has a quick ratio of 16.12, a current ratio of 16.12 and a debt-to-equity ratio of 0.07. The business has a 50 day simple moving average of $12.36 and a 200-day simple moving average of $14.71.

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 research analysts anticipate that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Institutional Investors Weigh In On Pliant Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PLRX. First Light Asset Management LLC boosted its stake in Pliant Therapeutics by 22.4% in 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 worth $20,522,000 after buying an additional 464,860 shares during the period. Vanguard Group Inc. grew its holdings 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 worth $51,827,000 after buying an additional 412,486 shares in the last quarter. Redmile Group LLC lifted its stake in Pliant Therapeutics by 14.9% in the 1st quarter. Redmile Group LLC now owns 3,097,220 shares of the company’s stock valued at $46,149,000 after acquiring an additional 400,572 shares in the last quarter. Finally, Mass General Brigham Inc acquired a new position in Pliant Therapeutics during the 1st quarter worth approximately $4,301,000. 97.30% of the stock is currently owned by institutional investors and hedge funds.

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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