Pliant Therapeutics (NASDAQ:PLRX) Now Covered by Leerink Partners

Leerink Partners initiated coverage on shares of Pliant Therapeutics (NASDAQ:PLRX) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $33.00 price target on the stock.

PLRX has been the subject of a number of other reports. Cantor Fitzgerald reissued an overweight rating on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Oppenheimer dropped their price target on Pliant Therapeutics from $48.00 to $45.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a buy rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Finally, HC Wainwright boosted their target price on Pliant Therapeutics from $36.00 to $38.00 and gave the stock a buy rating in a report on Monday, August 12th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $40.57.

Pliant Therapeutics Trading Down 3.4 %

PLRX stock opened at $11.84 on Monday. Pliant Therapeutics has a fifty-two week low of $10.29 and a fifty-two week high of $19.62. The business’s 50 day moving average price is $12.81 and its two-hundred day moving average price is $13.22. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.08.

Pliant Therapeutics (NASDAQ:PLRX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.07). Sell-side analysts forecast that Pliant Therapeutics will post -3.69 EPS for the current year.

Insider Transactions at Pliant Therapeutics

In related news, CFO Keith Lamont Cummings sold 10,911 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $126,131.16. Following the sale, the chief financial officer now directly owns 282,115 shares of the company’s stock, valued at $3,261,249.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Mike Ouimette sold 7,656 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $88,503.36. Following the transaction, the general counsel now directly owns 94,044 shares of the company’s stock, valued at approximately $1,087,148.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith Lamont Cummings sold 10,911 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $126,131.16. Following the completion of the transaction, the chief financial officer now owns 282,115 shares in the company, valued at $3,261,249.40. The disclosure for this sale can be found here. Insiders sold 69,596 shares of company stock worth $804,530 over the last quarter. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Pliant Therapeutics by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,959,088 shares of the company’s stock valued at $58,991,000 after buying an additional 173,172 shares during the period. First Light Asset Management LLC increased its stake in shares of Pliant Therapeutics by 22.4% in the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock worth $65,047,000 after purchasing an additional 658,516 shares in the last quarter. Vanguard Group Inc. raised its holdings in Pliant Therapeutics by 13.5% in the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock worth $51,827,000 after purchasing an additional 412,486 shares during the period. Redmile Group LLC lifted its position in Pliant Therapeutics by 14.9% during the first quarter. Redmile Group LLC now owns 3,097,220 shares of the company’s stock valued at $46,149,000 after purchasing an additional 400,572 shares in the last quarter. Finally, Great Point Partners LLC grew its holdings in Pliant Therapeutics by 42.4% during the second quarter. Great Point Partners LLC now owns 2,636,864 shares of the company’s stock valued at $28,346,000 after purchasing an additional 785,000 shares during the period. 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.