Pliant Therapeutics, Inc. (NASDAQ:PLRX) Given Average Rating of “Buy” by Analysts

Pliant Therapeutics, Inc. (NASDAQ:PLRX) has been given an average rating of “Buy” by the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $48.44.

A number of research analysts have weighed in on PLRX shares. HC Wainwright reiterated a “buy” rating and set a $48.00 price objective on shares of Pliant Therapeutics in a research report on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Wednesday, February 28th. Wells Fargo & Company began coverage on shares of Pliant Therapeutics in a research report on Friday, December 8th. They set an “overweight” rating and a $41.00 price objective on the stock. Finally, Royal Bank of Canada upped their price target on shares of Pliant Therapeutics from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th.

Pliant Therapeutics Trading Up 2.9 %

PLRX stock opened at $14.55 on Friday. The company has a quick ratio of 17.72, a current ratio of 17.72 and a debt-to-equity ratio of 0.02. Pliant Therapeutics has a twelve month low of $12.60 and a twelve month high of $30.85. The stock has a market capitalization of $876.49 million, a price-to-earnings ratio of -5.22 and a beta of 1.13. The firm’s fifty day simple moving average is $16.19 and its two-hundred day simple moving average is $15.92.

Insider Transactions at Pliant Therapeutics

In related news, insider Hans Hull sold 9,786 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $17.23, for a total value of $168,612.78. Following the completion of the sale, the insider now directly owns 185,069 shares of the company’s stock, valued at $3,188,738.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Hans Hull sold 9,786 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $17.23, for a total value of $168,612.78. Following the completion of the sale, the insider now directly owns 185,069 shares of the company’s stock, valued at $3,188,738.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mike Ouimette sold 5,197 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total transaction of $89,544.31. Following the completion of the sale, the general counsel now directly owns 55,246 shares of the company’s stock, valued at $951,888.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,485 shares of company stock worth $869,857. Insiders own 5.60% of the company’s stock.

Institutional Trading of Pliant Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Pliant Therapeutics by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 3,065,869 shares of the company’s stock worth $55,523,000 after acquiring an additional 120,557 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Pliant Therapeutics by 13.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,785,916 shares of the company’s stock valued at $68,564,000 after buying an additional 434,429 shares during the last quarter. Blue Owl Capital Holdings LP purchased a new stake in shares of Pliant Therapeutics during the fourth quarter valued at about $54,406,000. Exome Asset Management LLC purchased a new stake in shares of Pliant Therapeutics during the fourth quarter valued at about $898,000. Finally, Virtus ETF Advisers LLC lifted its position in shares of Pliant Therapeutics by 35.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,521 shares of the company’s stock valued at $100,000 after buying an additional 1,455 shares during the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

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.