Citigroup Cuts Pliant Therapeutics (NASDAQ:PLRX) Price Target to $44.00

Pliant Therapeutics (NASDAQ:PLRX - Free Report) had its target price reduced by Citigroup from $45.00 to $44.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

PLRX has been the topic of several other reports. HC Wainwright reissued a buy rating and set a $36.00 price objective on shares of Pliant Therapeutics in a report on Tuesday. Oppenheimer lifted their price target on shares of Pliant Therapeutics from $47.00 to $48.00 and gave the stock an outperform rating in a report on Tuesday. Needham & Company LLC reaffirmed a buy rating and issued a $38.00 price target on shares of Pliant Therapeutics in a report on Tuesday. Finally, Royal Bank of Canada cut their price target on shares of Pliant Therapeutics from $54.00 to $45.00 and set an outperform rating on the stock in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $45.67.

Pliant Therapeutics Stock Performance

Shares of Pliant Therapeutics stock remained flat at $13.79 on Tuesday. 322,966 shares of the stock traded hands, compared to its average volume of 384,202. 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 50 day moving average of $14.32 and a 200 day moving average of $15.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72. Pliant Therapeutics has a 1 year low of $11.21 and a 1 year high of $24.74.

Institutional Investors Weigh In On Pliant Therapeutics

Large investors have recently made changes to their positions in the stock. First Light Asset Management LLC lifted its position 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 valued at $65,047,000 after purchasing an additional 658,516 shares during the period. Laurion Capital Management LP lifted its position in Pliant Therapeutics by 0.9% during the third quarter. Laurion Capital Management LP now owns 3,186,511 shares of the company's stock valued at $55,254,000 after purchasing an additional 27,941 shares during the period. Vanguard Group Inc. raised its position in shares of Pliant Therapeutics by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,945,312 shares of the company's stock worth $51,072,000 after purchasing an additional 168,454 shares during the last quarter. Great Point Partners LLC raised 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 purchasing an additional 68,000 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its position in shares of Pliant Therapeutics by 1.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,665,000 shares of the company's stock worth $28,871,000 after purchasing an additional 25,000 shares during the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

About Pliant Therapeutics

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.