Pliant Therapeutics (NASDAQ:PLRX) Price Target Increased to $48.00 by Analysts at Oppenheimer

Pliant Therapeutics (NASDAQ:PLRX - Free Report) had its price target raised by Oppenheimer from $47.00 to $48.00 in a report released on Tuesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other analysts have also issued reports on the stock. Needham & Company LLC reiterated a buy rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research report on Tuesday. Royal Bank of Canada boosted their price objective on Pliant Therapeutics from $50.00 to $54.00 and gave the stock an outperform rating in a research note on Tuesday, March 5th. Finally, HC Wainwright restated a buy rating and issued a $36.00 target price on shares of Pliant Therapeutics in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and a consensus target price of $45.67.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX remained flat at $13.79 during midday trading on Tuesday. The stock had a trading volume of 322,966 shares, compared to its average volume of 384,202. The company has a 50-day simple moving average of $14.32 and a two-hundred day simple moving average of $15.41. Pliant Therapeutics has a 52-week low of $11.21 and a 52-week high of $24.74. The stock has a market cap of $831.81 million, a P/E ratio of -4.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72.

Institutional Investors Weigh In On Pliant Therapeutics

A number of hedge funds have recently modified their holdings of the company. First Light Asset Management LLC increased its stake in Pliant Therapeutics by 22.4% during the fourth 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 during the last quarter. Rhenman & Partners Asset Management AB purchased a new stake in Pliant Therapeutics in the 3rd quarter valued at about $5,733,000. Mass General Brigham Inc acquired a new position in Pliant Therapeutics in the first quarter valued at about $4,301,000. UBS Group AG lifted its position in Pliant Therapeutics by 8,855.2% in the third quarter. UBS Group AG now owns 270,804 shares of the company's stock valued at $4,696,000 after buying an additional 267,780 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its stake in Pliant Therapeutics by 22.5% during the fourth quarter. Granahan Investment Management LLC now owns 1,150,766 shares of the company's stock worth $20,840,000 after buying an additional 211,557 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.