Pliant Therapeutics (NASDAQ:PLRX) Shares Up 6.2% – Time to Buy?

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price rose 6.2% on Monday . The company traded as high as $14.70 and last traded at $14.66. Approximately 458,607 shares were traded during trading, an increase of 0% from the average daily volume of 456,788 shares. The stock had previously closed at $13.80.

Analysts Set New Price Targets

PLRX has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Leerink Partnrs raised Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners initiated coverage on Pliant Therapeutics in a research report on Monday, September 9th. They issued an “outperform” rating and a $33.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $40.57.

Pliant Therapeutics Stock Up 10.6 %

The firm has a 50-day simple moving average of $13.23 and a 200 day simple moving average of $12.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26. The company has a market capitalization of $928.63 million, a PE ratio of -4.46 and a beta of 1.08.

Institutional Trading of Pliant Therapeutics

Large investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new stake in shares of Pliant Therapeutics during the second quarter valued at about $59,000. Atria Investments Inc acquired a new position in Pliant Therapeutics in the third quarter worth about $112,000. Deerfield Management Company L.P. Series C acquired a new position in Pliant Therapeutics in the second quarter worth about $126,000. China Universal Asset Management Co. Ltd. boosted its stake in Pliant Therapeutics by 65.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock valued at $131,000 after acquiring an additional 4,607 shares during the period. Finally, Intech Investment Management LLC bought a new position in Pliant Therapeutics during the 3rd quarter worth $145,000. 97.30% of the stock is currently owned by institutional investors and hedge funds.

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.