Pliant Therapeutics (NASDAQ:PLRX) earns ‘Buy’ rating from HC Wainwright

HC Wainwright reiterated its buy rating on the stock Pliant Therapeutics (NASDAQ:PLRX – Free Report) in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a $38.00 target price on the stock.

A number of other equities analysts have recently weighed in on the stock. Leerink Partners raised shares of Pliant Therapeutics to a strong-buy rating in a research note on Monday, September 9th. 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. Oppenheimer cut their price target on Pliant Therapeutics from $48.00 to $45.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an overweight rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a buy rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $40.57, according to MarketBeat.

Get the latest stock analysis on PLRX

Pliant Therapeutics stock rose 1.4%

Shares of PLRX opened at $12.00 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 14.47, and a current ratio of 14.47. The company has a 50-day moving average of $12.84 and a 200-day moving average of $13.13. Pliant Therapeutics has a 1 year low of $10.29 and a 1 year high of $19.62.

Pliant Therapeutics (NASDAQ:PLRX – Get Your Free Report ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07). On average, equities analysts anticipate that Pliant Therapeutics will post -3.71 earnings per share for the current fiscal year.

Indoor activity

In related news, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics stock in a transaction dated 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 sale, the chief financial officer now directly owns 282,115 shares in the company, valued at approximately $3,261,249.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In other news, General Counsel Mike Ouimette sold 7,656 shares of the stock in a transaction dated Wednesday, July 10th. The shares were 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 via this link. Also, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics stock in a transaction dated 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 sale, the chief financial officer now directly owns 282,115 shares of the company’s stock, valued at approximately $3,261,249.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold a total of 69,596 shares of company stock worth $804,530. 6.40% of shares are currently held by corporate insiders.

Institutional inputs and outputs

Several institutional investors and hedge funds have recently bought and sold shares of PLRX. The Manufacturers Life Insurance Company boosted its stake in Pliant Therapeutics by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company’s stock worth $897,000 after buying an additional 1,191 shares during the period. ProShare Advisors LLC raised its position in Pliant Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after acquiring an additional 1,203 shares during the period. Quest Partners LLC acquired a new position in shares of Pliant Therapeutics in the 4th quarter worth $37,000. China Universal Asset Management Co. Ltd. raised its position in shares of 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, Dimensional Fund Advisors LP boosted its stake in Pliant Therapeutics by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock worth $3,282,000 after buying an additional 5,152 shares in the last quarter. 97.30% of shares are owned by hedge funds and other institutional investors.

Pliant Therapeutics Company Profile

(Get a free report)

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, a dual selective, oral, small molecule inhibitor of αvß6 and αvß1 integrins, which is in Phase 2b trials for idiopathic pulmonary fibrosis and Phase 2a trials for primary sclerosing cholangitis.

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