HC Wainwright Reiterates Buy Rating for Pliant Therapeutics (NASDAQ:PLRX)

Pliant Therapeutics (NASDAQ:PLRX)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $36.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 168.46% from the company’s previous close.

Several other equities research analysts have also commented on PLRX. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a report on Tuesday. Royal Bank of Canada upped their target price on Pliant Therapeutics from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $45.67.

Pliant Therapeutics Stock Performance

Shares of NASDAQ PLRX opened at $13.41 on Tuesday. The company has a 50 day simple moving average of $14.25 and a two-hundred day simple moving average of $15.41. The stock has a market cap of $808.89 million, a price-to-earnings ratio of -4.81 and a beta of 1.19. The company has a current ratio of 17.72, a quick ratio of 17.72 and a debt-to-equity ratio of 0.02. Pliant Therapeutics has a 12 month low of $11.21 and a 12 month high of $24.74.

Hedge Funds Weigh In On Pliant Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC increased its position in Pliant Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after purchasing an additional 1,203 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Pliant Therapeutics during the 1st quarter worth approximately $107,000. China Universal Asset Management Co. Ltd. lifted its holdings in Pliant Therapeutics by 67.1% in the first 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 during the last quarter. HighMark Wealth Management LLC lifted its holdings in Pliant Therapeutics by 80.9% in the first quarter. HighMark Wealth Management LLC now owns 42,500 shares of the company’s stock valued at $633,000 after acquiring an additional 19,000 shares during the last quarter. Finally, Mass General Brigham Inc purchased a new position in Pliant Therapeutics in the first quarter worth approximately $4,301,000. 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.