Analysts Set Pliant Therapeutics, Inc. (NASDAQ:PLRX) Price Target at $13.31

Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) has earned a consensus rating of "Hold" from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.31.

A number of equities analysts recently weighed in on PLRX shares. Royal Bank Of Canada decreased their price objective on Pliant Therapeutics from $4.00 to $3.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 4th. Leerink Partners downgraded shares of Pliant Therapeutics from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $33.00 to $2.00 in a research note on Monday, March 3rd. Citigroup lowered their price objective on shares of Pliant Therapeutics from $4.00 to $1.50 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Pliant Therapeutics in a report on Tuesday, March 4th. Finally, Leerink Partnrs downgraded shares of Pliant Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd.

Pliant Therapeutics Price Performance

PLRX stock remained flat at $1.31 during midday trading on Monday. 648,666 shares of the company's stock were exchanged, compared to its average volume of 1,122,707. The company's 50-day moving average is $1.44 and its 200-day moving average is $5.48. The company has a market cap of $80.42 million, a P/E ratio of -0.36 and a beta of 1.35. Pliant Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $16.10.

Hedge Funds Weigh In On Pliant Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of PLRX. Cormorant Asset Management LP purchased a new position in Pliant Therapeutics during the 1st quarter valued at about $4,050,000. Woodline Partners LP grew its position in shares of Pliant Therapeutics by 1,875.0% in the 1st quarter. Woodline Partners LP now owns 2,514,084 shares of the company's stock worth $3,394,000 after buying an additional 2,386,789 shares during the last quarter. Silverarc Capital Management LLC purchased a new position in shares of Pliant Therapeutics during the fourth quarter valued at approximately $17,326,000. Acadian Asset Management LLC bought a new position in shares of Pliant Therapeutics during the first quarter valued at approximately $1,642,000. Finally, Frazier Life Sciences Management L.P. bought a new stake in Pliant Therapeutics in the fourth quarter valued at $14,761,000. 97.30% of the stock is owned by 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.