Pliant Therapeutics (NASDAQ:PLRX) Shares Gap Up to $10.52

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRXGet Free Report) gapped up prior to trading on Monday . The stock had previously closed at $10.52, but opened at $11.01. Pliant Therapeutics shares last traded at $11.21, with a volume of 120,568 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada cut their target price on shares of Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Oppenheimer raised their target price on shares of Pliant Therapeutics from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research note on Tuesday, May 7th. Citigroup cut their target price on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of Pliant Therapeutics in a research note on Friday, June 7th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pliant Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $45.38.

View Our Latest Research Report on Pliant Therapeutics

Pliant Therapeutics Trading Up 1.7 %

The company has a current ratio of 16.12, a quick ratio of 16.12 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $12.32 and its 200-day moving average is $14.62.

Pliant Therapeutics (NASDAQ:PLRXGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.02). On average, equities analysts expect that Pliant Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLRX. First Light Asset Management LLC grew its holdings in Pliant Therapeutics by 22.4% during the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock worth $65,047,000 after acquiring an additional 658,516 shares in the last quarter. Capital International Investors grew its holdings in Pliant Therapeutics by 50.9% during the 1st quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock worth $20,522,000 after acquiring an additional 464,860 shares in the last quarter. Vanguard Group Inc. grew its holdings in Pliant Therapeutics by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock worth $51,827,000 after acquiring an additional 412,486 shares in the last quarter. Redmile Group LLC grew its holdings in Pliant Therapeutics by 14.9% during the 1st quarter. Redmile Group LLC now owns 3,097,220 shares of the company’s stock worth $46,149,000 after acquiring an additional 400,572 shares in the last quarter. Finally, Mass General Brigham Inc acquired a new position in Pliant Therapeutics during the 1st quarter worth $4,301,000. 97.30% of the stock is owned by institutional investors and hedge funds.

Pliant Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

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