Pliant Therapeutics, Inc. (NASDAQ:PLRX) Given Consensus Rating of "Reduce" by Analysts

Key Points

• Pliant Therapeutics, Inc. (NASDAQ:PLRX) has received a consensus rating of "Reduce" from analysts, with two sell ratings, eleven hold ratings, and one buy rating among the fourteen firms covering the stock.
• The average 12-month price target for Pliant Therapeutics is currently set at $8.1875, reflecting the mixed outlook from analysts.
• Recently, institutional investors have shown significant activity, with over 97.30% of the company's stock now owned by these investors, indicating strong interest in the firm.

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) have received a consensus rating of "Reduce" from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.1875.

Several brokerages have recently issued reports on PLRX. Weiss Ratings reiterated a "sell (e+)" rating on shares of Pliant Therapeutics in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Pliant Therapeutics in a research note on Friday, October 10th. Citigroup reiterated a "neutral" rating on shares of Pliant Therapeutics in a research note on Sunday, August 10th. Finally, Piper Sandler dropped their target price on shares of Pliant Therapeutics from $17.00 to $4.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th.

Pliant Therapeutics Price Performance

Shares of PLRX opened at $1.87 on Wednesday. The stock has a market cap of $114.80 million, a PE ratio of -0.55 and a beta of 1.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 12.99 and a current ratio of 12.99. Pliant Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $16.10. The firm's 50-day simple moving average is $1.56 and its two-hundred day simple moving average is $1.48.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.09). Analysts anticipate that Pliant Therapeutics will post -3.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC bought a new position in Pliant Therapeutics during the second quarter valued at approximately $30,000. Engineers Gate Manager LP lifted its position in Pliant Therapeutics by 139.4% during the second quarter. Engineers Gate Manager LP now owns 31,423 shares of the company's stock valued at $36,000 after purchasing an additional 18,300 shares during the period. Canada Pension Plan Investment Board bought a new position in Pliant Therapeutics during the second quarter valued at approximately $36,000. Catalyst Funds Management Pty Ltd bought a new position in Pliant Therapeutics during the second quarter valued at approximately $39,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Pliant Therapeutics by 119.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,540 shares of the company's stock valued at $41,000 after purchasing an additional 19,320 shares during the period. Institutional investors own 97.30% 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 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.

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