Pliant Therapeutics (NASDAQ:PLRX) Research Coverage Started at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell

Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of Pliant Therapeutics (NASDAQ:PLRX) in a research report sent to investors on Monday, Analyst Price Targets reports. The firm issued a buy rating and a $52.00 target price on the stock.

Shares of PLRX opened at $36.30 on Monday. Pliant Therapeutics has a fifty-two week low of $19.42 and a fifty-two week high of $43.92. The stock has a fifty day moving average of $36.44 and a two-hundred day moving average of $28.47.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Monday, March 15th. The company reported ($0.54) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.17. Pliant Therapeutics had a return on equity of 16.55% and a net margin of 20.83%. On average, analysts forecast that Pliant Therapeutics will post -2.28 EPS for the current year.

In other news, CEO Bernard Coulie sold 3,500 shares of Pliant Therapeutics stock in a transaction on Thursday, January 14th. The stock was sold at an average price of $26.38, for a total transaction of $92,330.00. Following the transaction, the chief executive officer now owns 48,840 shares in the company, valued at $1,288,399.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Lefebvre sold 12,500 shares of the company’s stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $39.41, for a total value of $492,625.00. Following the completion of the transaction, the insider now owns 150,715 shares in the company, valued at approximately $5,939,678.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,500 shares of company stock worth $719,775.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Pliant Therapeutics by 466.5% during the 3rd quarter. BlackRock Inc. now owns 484,279 shares of the company’s stock valued at $10,969,000 after acquiring an additional 398,792 shares in the last quarter. State Street Corp purchased a new position in Pliant Therapeutics in the third quarter valued at about $2,723,000. Charles Schwab Investment Management Inc. acquired a new position in Pliant Therapeutics in the 3rd quarter worth about $1,428,000. Point72 Asset Management L.P. acquired a new stake in shares of Pliant Therapeutics during the 3rd quarter valued at about $1,166,000. Finally, Swiss National Bank acquired a new position in Pliant Therapeutics in the fourth quarter worth approximately $545,000. Institutional investors own 79.46% 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 fibrotic in the United States. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avÃ6 and avÃ1 integrins, which has completed Phase Ia single ascending dose/ multiple ascending dose trails and Phase Ib proof-of-mechanism trials for the treatment of idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

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Analyst Recommendations for Pliant Therapeutics (NASDAQ:PLRX)

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