Pliant Therapeutics (NASDAQ:PLRX) Trading Down 5.3%

Pliant Therapeutics, Inc. (NASDAQ:PLRX) dropped 5.3% during mid-day trading on Monday . The stock traded as low as $11.17 and last traded at $11.17. Approximately 168,399 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 425,625 shares. The stock had previously closed at $11.80.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLRX. Citigroup dropped their price target on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Oppenheimer upped their price target on Pliant Therapeutics from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report 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, HC Wainwright reissued a “buy” rating and set a $36.00 target price 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, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $45.38.

Pliant Therapeutics Stock Performance

The company’s 50 day moving average is $13.08 and its 200-day moving average is $15.18. 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 earnings results on Monday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.02). Equities research analysts predict that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pliant Therapeutics

A number of large investors have recently modified their holdings of PLRX. Arizona State Retirement System lifted its stake in shares of Pliant Therapeutics by 6.4% in the fourth quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock valued at $227,000 after buying an additional 754 shares in the last quarter. ProShare Advisors LLC boosted its stake in Pliant Therapeutics by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock valued at $216,000 after purchasing an additional 1,203 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Pliant Therapeutics by 3.5% during the 3rd quarter. New York State Common Retirement Fund now owns 50,575 shares of the company’s stock worth $877,000 after purchasing an additional 1,725 shares in the last quarter. Quest Partners LLC bought a new stake in Pliant Therapeutics during the 4th quarter worth approximately $37,000. Finally, China Universal Asset Management Co. Ltd. raised its stake 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 worth $173,000 after purchasing an additional 4,652 shares during 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.