Pliant Therapeutics’ (PLRX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Pliant Therapeutics (NASDAQ:PLRX) in a research report released on Tuesday, Benzinga reports. The firm currently has a $38.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their target price 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. HC Wainwright restated a buy rating and set a $48.00 price objective on shares of Pliant Therapeutics in a research report on Wednesday, February 28th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $45.67.

Pliant Therapeutics Price Performance

PLRX stock opened at $13.79 on Tuesday. The firm has a 50-day moving average price of $14.32 and a 200-day moving average price of $15.41. Pliant Therapeutics has a 12 month low of $11.21 and a 12 month high of $24.74. The company has a current ratio of 17.72, a quick ratio of 17.72 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $831.81 million, a P/E ratio of -4.94 and a beta of 1.19.

Institutional Trading of Pliant Therapeutics

A number of institutional investors have recently bought and sold shares of PLRX. SG Americas Securities LLC acquired a new position in shares of Pliant Therapeutics in the 1st quarter valued at about $107,000. China Universal Asset Management Co. Ltd. increased 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 worth $173,000 after purchasing an additional 4,652 shares in the last quarter. HighMark Wealth Management LLC lifted its stake 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 buying an additional 19,000 shares during the period. Mass General Brigham Inc acquired a new stake in shares of Pliant Therapeutics during the 1st quarter worth approximately $4,301,000. Finally, Great Point Partners LLC grew its position in shares of Pliant Therapeutics by 3.9% during the 4th quarter. Great Point Partners LLC now owns 1,823,184 shares of the company’s stock worth $33,018,000 after buying an additional 68,000 shares during the period. Institutional investors own 97.30% of the company’s stock.

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.