Wall Street Analyst Initiated Pliant Therapeutics Inc. [PLRX]. What else is Wall St. saying

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Pliant Therapeutics Inc. [NASDAQ: PLRX] gained 159.01% or 14.12 points to close at $23.00 with a heavy trading volume of 81844572 shares. The company report on July 11, 2022 that Pliant Therapeutics Announces Proposed Public Offering of Common Stock.


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Pliant Therapeutics, Inc. (Nasdaq: PLRX), a clinical stage biotechnology company focused on discovering and developing novel therapeutics for the treatment of fibrosis, today announced that it has commenced an underwritten public offering of $150.0 million of its common stock. In addition, Pliant expects to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock in this offering will be sold by Pliant. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or the actual size or terms of the proposed offering.

J.P. Morgan and Cowen are acting as lead book-running managers for the proposed offering. RBC Capital Markets is acting as a book-running manager for the proposed offering. Cantor and BTIG are acting as lead managers for the proposed offering.

It opened the trading session at $16.01, the shares rose to $23.00 and dropped to $15.85, the range by which the price of stock traded the whole day. The daily chart for PLRX points out that the company has recorded 75.44% gains over the past six months. However, it is still -480.81% lower than its most recent low trading price.

If we look at the average trading volume of 295.54K shares, PLRX reached to a volume of 81844572 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Pliant Therapeutics Inc. [PLRX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLRX shares is $38.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLRX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Pliant Therapeutics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 25, 2022. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on December 10, 2021, representing the official price target for Pliant Therapeutics Inc. stock. Previously, the target price had yet another raise to $38, while RBC Capital Mkts analysts kept a Outperform rating on PLRX stock.

The Average True Range (ATR) for Pliant Therapeutics Inc. is set at 1.60, with the Price to Sales ratio for PLRX stock in the period of the last 12 months amounting to 124.34. The Price to Book ratio for the last quarter was 4.78, with the Price to Cash per share for the same quarter was set at 4.99.

Trading performance analysis for PLRX stock

Pliant Therapeutics Inc. [PLRX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 199.87. With this latest performance, PLRX shares gained by 226.70% in over the last four-week period, additionally plugging by 75.44% over the last 6 months – not to mention a drop of -14.72% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLRX stock in for the last two-week period is set at 92.72, with the RSI for the last a single of trading hit 95.34, and the three-weeks RSI is set at 89.63 for Pliant Therapeutics Inc. [PLRX]. The present Moving Average for the last 50 days of trading for this stock 6.67, while it was recorded at 11.46 for the last single week of trading, and 11.08 for the last 200 days.

Pliant Therapeutics Inc. [PLRX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Pliant Therapeutics Inc. [PLRX] shares currently have an operating margin of -1288.10 and a Gross Margin at +57.69. Pliant Therapeutics Inc.’s Net Margin is presently recorded at -1284.51.

Return on Equity for this stock declined to -40.35, with Return on Assets sitting at -37.64.

Pliant Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.10 and a Current Ratio set at 10.10.

An analysis of insider ownership at Pliant Therapeutics Inc. [PLRX]

There are presently around $728 million, or 88.60% of PLRX stock, in the hands of institutional investors. The top three institutional holders of PLRX stocks are: TRV GP III, LLC with ownership of 5,839,160, which is approximately 0% of the company’s market cap and around 8.96% of the total institutional ownership; FMR LLC, holding 5,075,325 shares of the stock with an approximate value of $116.73 million in PLRX stocks shares; and REDMILE GROUP, LLC, currently with $70.86 million in PLRX stock with ownership of nearly -0.088% of the company’s market capitalization.

54 institutional holders increased their position in Pliant Therapeutics Inc. [NASDAQ:PLRX] by around 1,885,948 shares. Additionally, 33 investors decreased positions by around 1,059,671 shares, while 20 investors held positions by with 28,725,446 shares. The mentioned changes placed institutional holdings at 31,671,065 shares, according to the latest SEC report filing. PLRX stock had 18 new institutional investments in for a total of 708,992 shares, while 12 institutional investors sold positions of 234,412 shares during the same period.

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