Pliant Therapeutics (NASDAQ:PLRX) Stock Price Up 4.5% – What’s Next?

Pliant Therapeutics, Inc. (NASDAQ:PLRX) shares were up 4.5% during trading on Wednesday . The stock traded as high as $11.84 and last traded at $11.75. Approximately 68,188 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 451,768 shares. The stock had previously closed at $11.24.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLRX. Oppenheimer dropped their price objective on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners assumed coverage on Pliant Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $33.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pliant Therapeutics currently has a consensus rating of “Buy” and an average target price of $40.57.

Pliant Therapeutics Price Performance

The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $12.45 and a two-hundred day simple moving average of $12.67.

Pliant Therapeutics (NASDAQ:PLRX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.07). On average, equities analysts anticipate that Pliant Therapeutics, Inc. will post -3.71 earnings per share for the current year.

Institutional Investors Weigh In On Pliant Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PLRX. Summit Securities Group LLC acquired a new stake in shares of Pliant Therapeutics during the second quarter worth about $59,000. SG Americas Securities LLC acquired a new stake in shares of Pliant Therapeutics during the first quarter worth about $107,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Pliant Therapeutics during the second quarter worth about $126,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Pliant Therapeutics by 67.1% during 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 during the period. Finally, ProShare Advisors LLC lifted its holdings in 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 acquiring an additional 1,203 shares during the period. Institutional investors and hedge funds 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.