Pliant Therapeutics (NASDAQ:PLRX) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Pliant Therapeutics (NASDAQ:PLRX) from a sell rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Pliant Therapeutics Inc. is a clinical stage biopharmaceutical company. It is focused on discovering and developing novel therapies for the treatment of fibrosis. The company’s lead product consist PLN-74809 and PLN-1474 which are in clinical stage. Pliant Therapeutics Inc. is based in SAN FRANCISCO, Calif. “

Separately, Needham & Company LLC restated a buy rating and set a $40.00 price target on shares of Pliant Therapeutics in a report on Wednesday, August 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $43.33.

Pliant Therapeutics stock opened at $28.97 on Friday. The stock has a 50 day moving average price of $23.03. Pliant Therapeutics has a fifty-two week low of $19.42 and a fifty-two week high of $35.63.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Tuesday, November 10th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.38. As a group, research analysts predict that Pliant Therapeutics will post -3.53 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PLRX. New York State Common Retirement Fund acquired a new stake in Pliant Therapeutics in the third quarter valued at approximately $54,000. Advisor Group Holdings Inc. acquired a new position in Pliant Therapeutics during the 2nd quarter worth about $58,000. JPMorgan Chase & Co. acquired a new position in Pliant Therapeutics during the 3rd quarter worth about $92,000. American International Group Inc. acquired a new position in Pliant Therapeutics during the 3rd quarter worth about $141,000. Finally, Grace Capital lifted its position in Pliant Therapeutics by 18.3% during the 3rd quarter. Grace Capital now owns 7,100 shares of the company’s stock worth $160,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 76.91% of the company’s stock.

About Pliant Therapeutics

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrotic in the United States. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avÃ6 and avÃ1 integrins, which has completed Phase Ia single ascending dose/ multiple ascending dose trails and Phase Ib proof-of-mechanism trials for the treatment of idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

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