Pliant Therapeutics (NASDAQ:PLRX) Downgraded by Leerink Partners to “Market Perform”

Pliant Therapeutics (NASDAQ:PLRX) was downgraded by equities researchers at Leerink Partners from an “outperform” rating to a “market perform” rating in a research note issued on Monday,Briefing.com Automated Import reports.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada downgraded shares of Pliant Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $45.00 to $4.00 in a research note on Monday, February 10th. Canaccord Genuity Group reissued a “hold” rating and issued a $4.00 price target (down previously from $43.00) on shares of Pliant Therapeutics in a report on Monday, February 10th. JPMorgan Chase & Co. cut shares of Pliant Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, February 10th. Citigroup lowered Pliant Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $4.00 in a research report on Monday, February 10th. Finally, HC Wainwright downgraded Pliant Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.75.

Pliant Therapeutics Price Performance

PLRX traded down $1.83 during midday trading on Monday, reaching $1.62. 11,216,012 shares of the company’s stock were exchanged, compared to its average volume of 751,340. Pliant Therapeutics has a one year low of $1.56 and a one year high of $16.81. The firm has a market capitalization of $98.28 million, a price-to-earnings ratio of -0.48 and a beta of 1.03. The business has a 50-day simple moving average of $9.32 and a two-hundred day simple moving average of $11.88. The company has a quick ratio of 10.26, a current ratio of 10.26 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling at Pliant Therapeutics

In other news, CEO Bernard Coulie sold 52,419 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $11.20, for a total value of $587,092.80. Following the completion of the transaction, the chief executive officer now owns 430,517 shares of the company’s stock, valued at $4,821,790.40. The trade was a 10.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hans Hull sold 15,936 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $11.20, for a total value of $178,483.20. Following the sale, the insider now directly owns 211,558 shares in the company, valued at $2,369,449.60. The trade was a 7.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,855 shares of company stock valued at $1,026,628. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLRX. R Squared Ltd bought a new position in shares of Pliant Therapeutics during the 4th quarter valued at about $33,000. Aquatic Capital Management LLC increased its stake in Pliant Therapeutics by 1,299.0% during the 4th quarter. Aquatic Capital Management LLC now owns 5,596 shares of the company’s stock worth $74,000 after purchasing an additional 5,196 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Pliant Therapeutics during the 4th quarter worth approximately $99,000. KLP Kapitalforvaltning AS bought a new position in Pliant Therapeutics in the fourth quarter valued at approximately $108,000. Finally, Atria Investments Inc acquired a new position in shares of Pliant Therapeutics in the third quarter valued at approximately $112,000. 97.30% of the stock is owned by institutional investors and hedge funds.

Pliant Therapeutics Company Profile

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.