Pliant Therapeutics (NASDAQ:PLRX) Cut to “Hold” at Leerink Partnrs

Leerink Partnrs lowered shares of Pliant Therapeutics (NASDAQ:PLRX) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued a “neutral” rating on shares of Pliant Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. cut shares of Pliant Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, February 10th. Canaccord Genuity Group reissued a “hold” rating and issued a $4.00 target price (down from $43.00) on shares of Pliant Therapeutics in a research report on Monday, February 10th. Royal Bank of Canada decreased their target price on shares of Pliant Therapeutics from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus cut shares of Pliant Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. Twelve equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.31.

Pliant Therapeutics Price Performance

Pliant Therapeutics stock opened at $1.52 on Monday. Pliant Therapeutics has a 12-month low of $1.26 and a 12-month high of $16.52. The stock has a market capitalization of $92.50 million, a P/E ratio of -0.46 and a beta of 1.03. The firm’s 50-day moving average is $8.60 and its two-hundred day moving average is $11.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26.

Pliant Therapeutics (NASDAQ:PLRX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.17. Equities analysts predict that Pliant Therapeutics will post -3.64 earnings per share for the current year.

Insider Activity at Pliant Therapeutics

In other Pliant Therapeutics news, insider Hans Hull sold 15,936 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $11.20, for a total value of $178,483.20. Following the completion of the transaction, the insider now directly owns 211,558 shares of the company’s stock, valued at $2,369,449.60. This represents a 7.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Mike Ouimette sold 13,270 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $11.20, for a total transaction of $148,624.00. Following the completion of the transaction, the general counsel now directly owns 80,774 shares of the company’s stock, valued at approximately $904,668.80. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,855 shares of company stock valued at $1,026,628. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pliant Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Pliant Therapeutics in the 4th quarter valued at about $33,000. Aquatic Capital Management LLC boosted its position in Pliant Therapeutics by 1,299.0% in the 4th quarter. Aquatic Capital Management LLC now owns 5,596 shares of the company’s stock valued at $74,000 after buying an additional 5,196 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Pliant Therapeutics during the fourth quarter worth about $99,000. KLP Kapitalforvaltning AS bought a new position in shares of Pliant Therapeutics during the fourth quarter worth about $108,000. Finally, Atria Investments Inc bought a new position in shares of Pliant Therapeutics during the third quarter worth about $112,000. 97.30% of the stock is owned by hedge funds and other institutional investors.

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.