Analysts’ Weekly Ratings Changes for Pliant Therapeutics (PLRX)

Several brokerages have updated their recommendations and price targets on shares of Pliant Therapeutics (NASDAQ: PLRX) in the last few weeks:

• 5/15/2024 – Pliant Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $36.00 price target on the stock.
• 5/7/2024 – Pliant Therapeutics had its price target lowered by analysts at Royal Bank of Canada from $54.00 to $45.00. They now have an “outperform” rating on the stock.
• 5/7/2024 – Pliant Therapeutics had its price target raised by analysts at Oppenheimer Holdings Inc. from $47.00 to $48.00. They now have an “outperform” rating on the stock.
• 5/7/2024 – Pliant Therapeutics had its price target lowered by analysts at Citigroup Inc. from $45.00 to $44.00. They now have a “buy” rating on the stock.
• 5/7/2024 – Pliant Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $36.00 price target on the stock.
• 5/7/2024 – Pliant Therapeutics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $38.00 price target on the stock.
• 4/10/2024 – Pliant Therapeutics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $38.00 price target on the stock.

Pliant Therapeutics Price Performance

PLRX traded up $0.06 on Tuesday, hitting $12.79. 113,545 shares of the company were exchanged, compared to its average volume of 397,834. The company has a debt-to-equity ratio of 0.07, a current ratio of 16.12 and a quick ratio of 16.12. Pliant Therapeutics, Inc. has a 12 month low of $11.21 and a 12 month high of $24.74. The firm has a fifty day simple moving average of $13.84 and a two-hundred day simple moving average of $15.37.

Pliant Therapeutics (NASDAQ:PLRX) last issued its earnings results on Monday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.02). Equities research analysts forecast that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Institutional Trading of Pliant Therapeutics

Institutional investors have recently modified their holdings of the company. Arizona State Retirement System grew its stake in Pliant Therapeutics by 6.4% in the fourth quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock worth $227,000 after purchasing an additional 754 shares during the period. ProShare Advisors LLC raised its position in Pliant Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after buying an additional 1,203 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Pliant Therapeutics by 3.5% during the 3rd quarter. New York State Common Retirement Fund now owns 50,575 shares of the company’s stock valued at $877,000 after acquiring an additional 1,725 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Pliant Therapeutics during the fourth quarter valued at approximately $37,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Pliant Therapeutics by 67.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock valued at $173,000 after purchasing an additional 4,652 shares during the period. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

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.