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

Key Points

• Analyst sentiment is bearish: Four firms give Pliant Therapeutics an average “Reduce” rating, including two sells, one hold and one buy. The average 12-month price target is $3.00 versus the stock’s recent price of $1.10.
• Shares remain near their 52-week low: PLRX has traded between $1.02 and $1.95, with a market capitalization of about $68 million and a negative P/E ratio of -0.74.
• Quarterly results fell short of expectations: The company reported a loss of $0.36 per share, missing the $0.34-per-share consensus estimate; analysts expect a full-year loss of $1.36 per share. Institutional investors and hedge funds own 97.3% of the stock.

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) have been assigned an average recommendation of "Reduce" from the four research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.00.

A number of research analysts recently weighed in on PLRX shares. Wall Street Zen lowered Pliant Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Pliant Therapeutics in a report on Friday, July 17th.

Institutional Trading of Pliant Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Jump Financial LLC bought a new stake in shares of Pliant Therapeutics during the 2nd quarter worth about $30,000. Public Employees Retirement System of Ohio bought a new position in Pliant Therapeutics in the 2nd quarter valued at about $32,000. Engineers Gate Manager LP raised its holdings in Pliant Therapeutics by 139.4% in the 2nd quarter. Engineers Gate Manager LP now owns 31,423 shares of the company's stock valued at $36,000 after acquiring an additional 18,300 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Pliant Therapeutics during the second quarter worth approximately $36,000. Finally, HRT Financial LP acquired a new stake in Pliant Therapeutics during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 97.30% of the company's stock.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX opened at $1.10 on Tuesday. Pliant Therapeutics has a 52-week low of $1.02 and a 52-week high of $1.95. The company has a market capitalization of $68.11 million, a P/E ratio of -0.74 and a beta of 1.24. The company has a 50-day simple moving average of $1.11 and a 200 day simple moving average of $1.20.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). As a group, equities analysts forecast that Pliant Therapeutics will post -1.36 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).

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