Pliant Therapeutics (NASDAQ:PLRX) Rating Reiterated by Needham & Company LLC

Pliant Therapeutics (NASDAQ:PLRX)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $38.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 209.45% from the company’s current price.

Other research analysts have also issued research reports about the company. Citigroup reduced their price objective on Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of Pliant Therapeutics in a research note on Tuesday, July 16th. Oppenheimer dropped their price target on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada dropped their price target on Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $45.00.

Pliant Therapeutics Trading Up 0.2 %

Shares of NASDAQ:PLRX traded up $0.02 during midday trading on Thursday, hitting $12.28. 451,619 shares of the stock traded hands, compared to its average volume of 631,681. The business’s 50 day moving average is $12.00 and its two-hundred day moving average is $13.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 16.12 and a current ratio of 16.12. Pliant Therapeutics has a one year low of $10.29 and a one year high of $19.88.

Pliant Therapeutics (NASDAQ:PLRX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.07). On average, research analysts predict that Pliant Therapeutics will post -3.44 earnings per share for the current year.

Insider Buying and Selling at Pliant Therapeutics

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $88,503.36. Following the sale, the general counsel now directly owns 94,044 shares of the company’s stock, valued at $1,087,148.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $88,503.36. Following the sale, the general counsel now directly owns 94,044 shares of the company’s stock, valued at $1,087,148.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $126,131.16. Following the completion of the sale, the chief financial officer now directly owns 282,115 shares in the company, valued at $3,261,249.40. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock valued at $804,530 over the last ninety days. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of Pliant Therapeutics by 6.4% during the fourth quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock valued at $227,000 after buying an additional 754 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Pliant Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock valued at $216,000 after purchasing an additional 1,203 shares during the period. Quest Partners LLC purchased a new stake in shares of Pliant Therapeutics in the fourth quarter valued at approximately $37,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 4,652 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Pliant Therapeutics by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock valued at $3,282,000 after purchasing an additional 5,152 shares during the period. Hedge funds and other 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.