Oppenheimer Trims Pliant Therapeutics (NASDAQ:PLRX) Target Price to $45.00

Pliant Therapeutics (NASDAQ:PLRX) had its price objective lowered by Oppenheimer from $48.00 to $45.00 in a research note published on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reiterated a buy rating and issued a $36.00 price objective on shares of Pliant Therapeutics in a report on Tuesday, July 16th. Citigroup decreased their price target on Pliant Therapeutics from $45.00 to $44.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Royal Bank of Canada cut their price objective on Pliant Therapeutics from $54.00 to $45.00 and set an outperform rating on the stock in a research note on Tuesday, May 7th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Tuesday, July 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $44.57.

Pliant Therapeutics Stock Performance

Shares of NASDAQ PLRX opened at $12.28 on Thursday. Pliant Therapeutics has a one year low of $10.29 and a one year high of $19.88. The business’s 50-day moving average price is $12.00 and its two-hundred day moving average price is $13.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 16.12 and a current ratio of 16.12.

Pliant Therapeutics (NASDAQ:PLRX) last issued its quarterly earnings data 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 anticipate that Pliant Therapeutics will post -3.44 earnings per share for the current year.

Insider Buying and Selling at Pliant Therapeutics

In other news, General Counsel Mike Ouimette sold 7,656 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 $88,503.36. Following the sale, the general counsel now owns 94,044 shares in the company, valued at $1,087,148.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Keith Lamont Cummings sold 10,911 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 $126,131.16. Following the transaction, the chief financial officer now directly owns 282,115 shares in the company, valued at $3,261,249.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mike Ouimette sold 7,656 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $88,503.36. Following the completion of the transaction, the general counsel now directly owns 94,044 shares of the company’s stock, valued at approximately $1,087,148.64. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock valued at $804,530 in the last 90 days. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Pliant Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC bought a new position in Pliant Therapeutics in the fourth quarter worth $37,000. Summit Securities Group LLC bought a new position in shares of Pliant Therapeutics during the 2nd quarter worth about $59,000. SG Americas Securities LLC acquired a new stake in shares of Pliant Therapeutics during the 1st quarter valued at about $107,000. China Universal Asset Management Co. Ltd. increased its stake in Pliant Therapeutics by 67.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock valued at $173,000 after acquiring an additional 4,652 shares during the period. Finally, Arizona State Retirement System raised its position in Pliant Therapeutics by 6.4% in the fourth quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock worth $227,000 after purchasing an additional 754 shares in the last quarter. 97.30% of the stock is currently owned by 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.