Pliant Therapeutics (NASDAQ:PLRX) Shares Up 6.2% – Here’s What Happened

Pliant Therapeutics, Inc. (NASDAQ:PLRX) shares shot up 6.2% during trading on Monday . The stock traded as high as $14.70 and last traded at $14.66. 458,607 shares changed hands during trading, an increase of 0% from the average session volume of 456,788 shares. The stock had previously closed at $13.80.

Analysts Set New Price Targets

Several research firms have commented on PLRX. Leerink Partners began coverage on Pliant Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $33.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Oppenheimer cut their target price on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Leerink Partnrs raised Pliant Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pliant Therapeutics presently has an average rating of “Buy” and a consensus price target of $40.57.

Pliant Therapeutics Trading Up 10.6 %

The business has a fifty day simple moving average of $13.23 and a 200 day simple moving average of $12.73. The stock has a market cap of $928.63 million, a price-to-earnings ratio of -4.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26.

Institutional Investors Weigh In On Pliant Therapeutics

A number of large investors have recently bought and sold shares of PLRX. The Manufacturers Life Insurance Company lifted its stake in shares of Pliant Therapeutics by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company’s stock worth $897,000 after purchasing an additional 1,191 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Pliant Therapeutics by 65.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock worth $131,000 after purchasing an additional 4,607 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Pliant Therapeutics by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock worth $3,282,000 after purchasing an additional 5,152 shares during the period. Summit Securities Group LLC purchased a new position in shares of Pliant Therapeutics during the 2nd quarter worth $59,000. Finally, Ensign Peak Advisors Inc lifted its stake in shares of Pliant Therapeutics by 39.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 35,368 shares of the company’s stock worth $380,000 after purchasing an additional 9,950 shares during the period. 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.