Pliant Therapeutics (NASDAQ:PLRX) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Pliant Therapeutics' stock has received a "sell (e+)" rating from Weiss Ratings, marking a continuation of its challenging rating landscape with multiple analysts expressing caution.
• The current average target price for Pliant Therapeutics is $8.19, with a consensus rating of "Reduce," implying limited upside potential from the current trading levels.
• Despite recent ratings, Pliant Therapeutics' stock opened at $1.81 and has a market capitalization of $111.12 million, indicating significant volatility in the stock's value compared to its one-year high of $16.10.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities researchers at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

A number of other equities analysts also recently commented on PLRX. 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 cut their target price on shares of Pliant Therapeutics from $17.00 to $4.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $8.19.

Pliant Therapeutics Stock Up 3.4%

NASDAQ:PLRX opened at $1.81 on Friday. The company has a market capitalization of $111.12 million, a price-to-earnings ratio of -0.53 and a beta of 1.40. Pliant Therapeutics has a one year low of $1.10 and a one year high of $16.10. The stock has a 50-day simple moving average of $1.58 and a 200 day simple moving average of $1.49. 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 (NASDAQ:PLRX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.71) EPS for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.09). Sell-side analysts predict that Pliant Therapeutics will post -3.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Pliant Therapeutics

A number of large investors have recently bought and sold shares of the business. Cormorant Asset Management LP bought a new stake in shares of Pliant Therapeutics during the first quarter valued at approximately $4,050,000. Woodline Partners LP raised its holdings in shares of Pliant Therapeutics by 1,875.0% during the first quarter. Woodline Partners LP now owns 2,514,084 shares of the company's stock valued at $3,394,000 after buying an additional 2,386,789 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Pliant Therapeutics by 307.1% during the second 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 during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Pliant Therapeutics during the first quarter valued at approximately $1,642,000. Finally, Monaco Asset Management SAM bought a new stake in shares of Pliant Therapeutics during the second quarter valued at approximately $815,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.