HC Wainwright Analysts Cut Earnings Estimates for Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) - Analysts at HC Wainwright dropped their Q2 2024 earnings per share (EPS) estimates for Pliant Therapeutics in a report issued on Tuesday, May 7th. HC Wainwright analyst E. Arce now expects that the company will post earnings per share of ($0.82) for the quarter, down from their previous forecast of ($0.71). HC Wainwright has a "Buy" rating and a $36.00 price objective on the stock. The consensus estimate for Pliant Therapeutics' current full-year earnings is ($3.27) per share. HC Wainwright also issued estimates for Pliant Therapeutics' Q3 2024 earnings at ($0.84) EPS, Q4 2024 earnings at ($0.84) EPS, FY2024 earnings at ($3.27) EPS, FY2025 earnings at ($3.53) EPS, FY2026 earnings at ($3.72) EPS, FY2027 earnings at ($1.41) EPS and FY2028 earnings at ($0.06) EPS.

PLRX has been the subject of a number of other reports. Oppenheimer lifted their price target on shares of Pliant Therapeutics from $47.00 to $48.00 and gave the company an "outperform" rating in a research report on Tuesday. Citigroup cut their target price on Pliant Therapeutics from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday. Needham & Company LLC restated a "buy" rating and set a $38.00 price target on shares of Pliant Therapeutics in a research report on Tuesday. Finally, Royal Bank of Canada cut their price objective on Pliant Therapeutics from $54.00 to $45.00 and set an "outperform" rating on the stock in a report on Tuesday. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pliant Therapeutics presently has an average rating of "Buy" and an average target price of $45.67.

Pliant Therapeutics Stock Performance

PLRX remained flat at $13.81 on Friday. 487,214 shares of the company traded hands, compared to its average volume of 383,919. The stock's 50-day simple moving average is $14.14 and its two-hundred day simple moving average is $15.38. Pliant Therapeutics has a 12-month low of $11.21 and a 12-month high of $24.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72. The stock has a market cap of $833.02 million, a price-to-earnings ratio of -4.94 and a beta of 1.19.

Institutional Investors Weigh In On Pliant Therapeutics

Large investors have recently modified their holdings of the company. First Light Asset Management LLC raised its stake in Pliant Therapeutics by 22.4% in the fourth quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company's stock valued at $65,047,000 after buying an additional 658,516 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Pliant Therapeutics by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company's stock worth $51,827,000 after acquiring an additional 412,486 shares in the last quarter. Laurion Capital Management LP lifted its stake in Pliant Therapeutics by 0.9% during the third quarter. Laurion Capital Management LP now owns 3,186,511 shares of the company's stock worth $55,254,000 after purchasing an additional 27,941 shares during the last quarter. Great Point Partners LLC boosted its holdings in Pliant Therapeutics by 3.9% in the fourth quarter. Great Point Partners LLC now owns 1,823,184 shares of the company's stock valued at $33,018,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its stake in Pliant Therapeutics by 1.5% in the third quarter. Polar Capital Holdings Plc now owns 1,665,000 shares of the company's stock valued at $28,871,000 after purchasing an additional 25,000 shares during the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

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.