Analysts Set Pliant Therapeutics, Inc. (NASDAQ:PLRX) Price Target at $3.00

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have been given a consensus rating of “Reduce” by the five research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.00.

A number of research analysts have recently commented on PLRX shares. Wall Street Zen upgraded Pliant Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pliant Therapeutics in a research note on Tuesday, April 21st. Canaccord Genuity Group reduced their price target on Pliant Therapeutics from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Friday, March 13th. Finally, Piper Sandler reduced their price target on Pliant Therapeutics from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th.

Institutional Investors Weigh In On Pliant Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLRX. ADAR1 Capital Management LLC grew its stake in Pliant Therapeutics by 3,402.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,585,126 shares of the company’s stock worth $3,257,000 after purchasing an additional 2,511,307 shares during the period. Woodline Partners LP grew its stake in Pliant Therapeutics by 1,875.0% in the first quarter. Woodline Partners LP now owns 2,514,084 shares of the company’s stock worth $3,394,000 after purchasing an additional 2,386,789 shares during the period. BML Capital Management LLC bought a new position in Pliant Therapeutics during the 4th quarter valued at approximately $1,886,000. Prosight Management LP increased its position in Pliant Therapeutics by 7,493.8% during the 4th quarter. Prosight Management LP now owns 1,555,744 shares of the company’s stock valued at $1,898,000 after buying an additional 1,535,257 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Pliant Therapeutics by 307.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,958,433 shares of the company’s stock valued at $2,272,000 after buying an additional 1,477,336 shares in the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

Pliant Therapeutics Stock Performance

NASDAQ PLRX opened at $1.16 on Thursday. Pliant Therapeutics has a fifty-two week low of $1.09 and a fifty-two week high of $1.95. The stock has a 50 day simple moving average of $1.24 and a two-hundred day simple moving average of $1.27. The stock has a market cap of $71.83 million, a P/E ratio of -0.63 and a beta of 1.19.

Pliant Therapeutics (NASDAQ:PLRX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.04. Sell-side analysts predict that Pliant Therapeutics will post -1.37 earnings per share for the current year.

Pliant Therapeutics Company Profile

Pliant Therapeutics, Inc (NASDAQ: PLRX) is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for fibrotic diseases. Headquartered in Redwood City, California, Pliant applies a precision medicine approach to target integrin-mediated signaling pathways implicated in the development and progression of fibrosis across organ systems.

The company’s lead product candidate, PLN-74809, is an oral small molecule designed to inhibit both αvβ1 and αvβ6 integrins in patients with idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).