Pliant Therapeutics (NASDAQ:PLRX) Trading 8.7% Higher

Pliant Therapeutics, Inc. (NASDAQ:PLRX) traded up 8.7% during mid-day trading on Thursday . The company traded as high as $12.34 and last traded at $12.05. 364,900 shares traded hands during trading, a decline of 21% from the average session volume of 460,514 shares. The stock had previously closed at $11.09.

Analysts Set New Price Targets

Several analysts have commented on PLRX shares. Citigroup lowered their price objective on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Royal Bank of Canada lowered their price target on shares of Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Tuesday, May 7th. Oppenheimer raised their target price on Pliant Therapeutics from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Pliant Therapeutics in a research report on Friday, June 7th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $45.38.

Pliant Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 16.12 and a quick ratio of 16.12. The company has a 50-day moving average price of $12.25 and a two-hundred day moving average price of $14.55.

Pliant Therapeutics (NASDAQ:PLRX) last posted its earnings results on Monday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.02). As a group, equities research analysts predict that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insider Activity at Pliant Therapeutics

In other Pliant Therapeutics news, CEO Bernard Coulie sold 38,710 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $447,487.60. Following the completion of the transaction, the chief executive officer now directly owns 482,936 shares of the company’s stock, valued at approximately $5,582,740.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Bernard Coulie sold 38,710 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $447,487.60. Following the completion of the transaction, the chief executive officer now owns 482,936 shares of the company’s stock, valued at $5,582,740.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $126,131.16. Following the sale, the chief financial officer now owns 282,115 shares of the company’s stock, valued at $3,261,249.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,596 shares of company stock valued at $804,530. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in Pliant Therapeutics by 536.3% during the second quarter. SG Americas Securities LLC now owns 45,891 shares of the company’s stock worth $493,000 after purchasing an additional 38,679 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Pliant Therapeutics by 221.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 27,557 shares of the company’s stock worth $296,000 after buying an additional 18,977 shares during the last quarter. Redmile Group LLC boosted its stake in Pliant Therapeutics by 14.9% in the first quarter. Redmile Group LLC now owns 3,097,220 shares of the company’s stock worth $46,149,000 after buying an additional 400,572 shares in the last quarter. 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 acquiring an additional 173,172 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of Pliant Therapeutics by 50.9% during the first quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock worth $20,522,000 after acquiring an additional 464,860 shares in the last quarter. 97.30% of the stock is currently owned by hedge funds and other 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.