Pliant Therapeutics (NASDAQ:PLRX) Price Target Lowered to $44.00 at Citigroup

Pliant Therapeutics (NASDAQ:PLRX) had its price target reduced by Citigroup from $45.00 to $44.00 in a report released on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Needham & Company LLC restated a buy rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Tuesday. Oppenheimer raised their price target on Pliant Therapeutics from $47.00 to $48.00 and gave the company an outperform rating in a research note on Tuesday. Royal Bank of Canada lowered their price objective on shares of Pliant Therapeutics from $54.00 to $45.00 and set an outperform rating for the company in a research note on Tuesday. Finally, HC Wainwright restated a buy rating and issued a $36.00 price target on shares of Pliant Therapeutics in a report on Tuesday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Pliant Therapeutics currently has an average rating of Buy and an average price target of $45.67.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX opened at $13.79 on Tuesday. The firm’s 50 day simple moving average is $14.32 and its 200-day simple moving average is $15.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72. Pliant Therapeutics has a one year low of $11.21 and a one year high of $24.74. The firm has a market cap of $831.81 million, a PE ratio of -4.94 and a beta of 1.19.

Hedge Funds Weigh In On Pliant Therapeutics

A number of large investors have recently made changes to their positions in PLRX. Bank of New York Mellon Corp increased its position in Pliant Therapeutics by 8.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 200,224 shares of the company’s stock valued at $3,472,000 after buying an additional 15,578 shares in the last quarter. TD Asset Management Inc raised its position in shares of Pliant Therapeutics by 100.0% in the 3rd quarter. TD Asset Management Inc now owns 112,248 shares of the company’s stock valued at $1,946,000 after purchasing an additional 56,124 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Pliant Therapeutics by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock worth $27,000 after purchasing an additional 754 shares in the last quarter. Barclays PLC grew its position in Pliant Therapeutics by 165.3% during the 3rd quarter. Barclays PLC now owns 244,266 shares of the company’s stock worth $4,236,000 after purchasing an additional 152,190 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake 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 valued at $877,000 after purchasing an additional 1,725 shares in the last quarter. 97.30% of the stock is 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.