Pliant Therapeutics (NASDAQ:PLRX) Rating Reiterated by HC Wainwright

Pliant Therapeutics (NASDAQ:PLRX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $38.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 220.95% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Leerink Partners assumed coverage on Pliant Therapeutics in a report on Monday. They issued an “outperform” rating and a $33.00 target price on the stock. Oppenheimer dropped their price target on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Finally, Leerink Partnrs raised shares of Pliant Therapeutics to a “strong-buy” rating in a research report on Monday. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $40.57.

Pliant Therapeutics Stock Performance

Shares of Pliant Therapeutics stock opened at $11.84 on Friday. Pliant Therapeutics has a 12-month low of $10.29 and a 12-month high of $19.62. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $12.81 and a two-hundred day moving average price of $13.22.

Pliant Therapeutics (NASDAQ:PLRX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.07). As a group, equities analysts predict that Pliant Therapeutics will post -3.71 EPS for the current year.

Insider Activity

In related news, CEO Bernard Coulie sold 38,710 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $447,487.60. Following the sale, the chief executive officer now owns 482,936 shares of the company’s stock, valued at $5,582,740.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Pliant Therapeutics news, CEO Bernard Coulie sold 38,710 shares of Pliant Therapeutics stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $447,487.60. Following the completion of the transaction, the chief executive officer now directly owns 482,936 shares of the company’s stock, valued at $5,582,740.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mike Ouimette sold 7,656 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $88,503.36. Following the completion of the sale, the general counsel now directly owns 94,044 shares in the company, valued at approximately $1,087,148.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,596 shares of company stock worth $804,530. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC acquired a new stake in Pliant Therapeutics during the 4th quarter valued at $37,000. Summit Securities Group LLC bought a new position in shares of Pliant Therapeutics in the second quarter valued at about $59,000. SG Americas Securities LLC acquired a new position in Pliant Therapeutics during the 1st quarter worth about $107,000. Deerfield Management Company L.P. Series C bought a new stake in Pliant Therapeutics during the 2nd quarter worth about $126,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Pliant Therapeutics by 67.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock valued at $173,000 after acquiring an additional 4,652 shares in the last quarter. 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.