Pliant Therapeutics' (PLRX) Buy Rating Reaffirmed at HC Wainwright

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $36.00 target price on the stock. HC Wainwright's price objective would suggest a potential upside of 161.06% from the company's previous close.

Several other analysts have also weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Pliant Therapeutics from $50.00 to $54.00 and gave the stock an "outperform" rating in a report on Tuesday, March 5th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Pliant Therapeutics has a consensus rating of "Buy" and a consensus target price of $45.67.

Pliant Therapeutics Price Performance

Shares of PLRX remained flat at $13.79 during trading hours on Tuesday. 322,966 shares of the stock traded hands, compared to its average volume of 384,202. The stock has a market capitalization of $831.81 million, a PE ratio of -4.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 17.72 and a quick ratio of 17.72. The company's 50 day moving average price is $14.32 and its two-hundred day moving average price is $15.41. Pliant Therapeutics has a fifty-two week low of $11.21 and a fifty-two week high of $24.74.

Hedge Funds Weigh In On Pliant Therapeutics

Large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its position in shares of Pliant Therapeutics by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company's stock worth $27,000 after purchasing an additional 754 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Pliant Therapeutics by 6.4% in the 4th quarter. Arizona State Retirement System now owns 12,545 shares of the company's stock valued at $227,000 after acquiring an additional 754 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Pliant Therapeutics by 3.5% in the 3rd quarter. New York State Common Retirement Fund now owns 50,575 shares of the company's stock valued at $877,000 after acquiring an additional 1,725 shares during the period. Quest Partners LLC acquired a new stake in Pliant Therapeutics in the fourth quarter worth $37,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Pliant Therapeutics by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 424,196 shares of the company's stock worth $7,682,000 after buying an additional 5,990 shares during the period. 97.30% of the stock is currently owned by institutional investors and hedge funds.

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.