Pliant Therapeutics’ (PLRX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Pliant Therapeutics (NASDAQ:PLRX) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $38.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. HC Wainwright restated a buy rating and set a $48.00 target price on shares of Pliant Therapeutics in a research report on Wednesday, February 28th. Royal Bank of Canada raised their target price on Pliant Therapeutics from $50.00 to $54.00 and gave the stock an outperform rating in a report on Tuesday, March 5th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and an average target price of $45.67.

Pliant Therapeutics Price Performance

Shares of NASDAQ PLRX opened at $13.79 on Tuesday. Pliant Therapeutics has a 52 week low of $11.21 and a 52 week high of $24.74. The business’s 50 day moving average price is $14.32 and its 200 day moving average price is $15.41. The company has a quick ratio of 17.72, a current ratio of 17.72 and a debt-to-equity ratio of 0.02. The firm has a market cap of $831.81 million, a P/E ratio of -4.94 and a beta of 1.19.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PLRX. Barclays PLC raised its holdings in shares of Pliant Therapeutics by 165.3% during the third quarter. Barclays PLC now owns 244,266 shares of the company’s stock valued at $4,236,000 after acquiring an additional 152,190 shares during the last quarter. UBS Group AG grew its holdings in shares of Pliant Therapeutics by 8,855.2% during the third quarter. UBS Group AG now owns 270,804 shares of the company’s stock worth $4,696,000 after buying an additional 267,780 shares in the last quarter. Silverarc Capital Management LLC lifted its stake in shares of Pliant Therapeutics by 133.4% in the third quarter. Silverarc Capital Management LLC now owns 250,409 shares of the company’s stock worth $4,342,000 after buying an additional 143,142 shares in the last quarter. Profund Advisors LLC acquired a new position in Pliant Therapeutics during the third quarter worth about $215,000. Finally, Corton Capital Inc. purchased a new stake in Pliant Therapeutics during the 3rd quarter valued at about $197,000. Institutional investors and hedge funds own 97.30% of the company’s stock.

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.