Pliant Therapeutics (NASDAQ:PLRX) Posts Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Pliant Therapeutics reported a quarterly loss of $0.36 per share, missing analysts’ consensus estimate by $0.02.
• Shares traded near $1.03, at the company’s 12-month low, with a market capitalization of approximately $63.8 million.
• Analysts have a consensus “Reduce” rating and an average price target of $3.00, while institutional investors own 97.3% of the stock.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02), FiscalAI reports.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX traded down $0.01 during midday trading on Tuesday, hitting $1.03. 217,077 shares of the stock were exchanged, compared to its average volume of 613,875. The business's 50-day moving average price is $1.12 and its 200 day moving average price is $1.21. Pliant Therapeutics has a 12 month low of $1.03 and a 12 month high of $1.95. The stock has a market capitalization of $63.78 million, a price-to-earnings ratio of -0.56 and a beta of 1.24.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of 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 Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $3.00.

Institutional Investors Weigh In On Pliant Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Rangeley Capital LLC increased its position in Pliant Therapeutics by 20.4% in the 2nd quarter. Rangeley Capital LLC now owns 60,220 shares of the company's stock valued at $70,000 after acquiring an additional 10,220 shares during the period. Algert Global LLC grew its stake in shares of Pliant Therapeutics by 17.7% in the third quarter. Algert Global LLC now owns 104,382 shares of the company's stock worth $154,000 after purchasing an additional 15,692 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Pliant Therapeutics by 139.4% in 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. Invesco Ltd. increased its holdings in Pliant Therapeutics by 42.2% in the first quarter. Invesco Ltd. now owns 68,963 shares of the company's stock valued at $93,000 after purchasing an additional 20,449 shares during the period. Finally, Jump Financial LLC bought a new position in Pliant Therapeutics during the 2nd quarter worth $30,000. 97.30% of the stock is owned by institutional investors.

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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