Pliant Therapeutics (NASDAQ:PLRX) PT Raised to $48.00

Pliant Therapeutics (NASDAQ:PLRX) had its target price boosted by stock analysts at Oppenheimer from $47.00 to $48.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 257.94% from the stock’s current price.

A number of other research firms have also recently commented on PLRX. Royal Bank of Canada lifted their price target on shares of Pliant Therapeutics from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of Pliant Therapeutics in a report on Tuesday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $45.67.

Pliant Therapeutics Stock Performance

NASDAQ PLRX opened at $13.41 on Tuesday. The company has a market cap of $808.89 million, a P/E ratio of -4.81 and a beta of 1.19. The business’s 50 day moving average price is $14.25 and its 200-day moving average price is $15.41. Pliant Therapeutics has a fifty-two week low of $11.21 and a fifty-two week high of $24.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72.

Institutional Trading of Pliant Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PLRX. ProShare Advisors LLC lifted its holdings 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 buying an additional 1,203 shares during the period. SG Americas Securities LLC purchased a new stake in Pliant Therapeutics during the first quarter valued at approximately $107,000. China Universal Asset Management Co. Ltd. boosted its stake 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 in the last quarter. HighMark Wealth Management LLC grew 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 worth $633,000 after purchasing an additional 19,000 shares during the last quarter. Finally, Mass General Brigham Inc acquired a new position in shares of Pliant Therapeutics during the first quarter worth $4,301,000. 97.30% of the stock is owned by hedge funds and other institutional investors.

About Pliant Therapeutics

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.