Analysts Set Pliant Therapeutics, Inc. (NASDAQ:PLRX) Target Price at $3.00

Pliant Therapeutics, Inc. (NASDAQ:PLRX) has been assigned a consensus recommendation of “Reduce” from the five analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $3.00.

Several equities research analysts recently weighed in on PLRX shares. Wall Street Zen upgraded Pliant Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Friday, July 17th.

Institutional Investors Weigh In On Pliant Therapeutics

Several hedge funds have recently bought and sold shares of PLRX. Rangeley Capital LLC boosted its position in shares of Pliant Therapeutics by 20.4% in the 2nd quarter. Rangeley Capital LLC now owns 60,220 shares of the company’s stock worth $70,000 after purchasing an additional 10,220 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Pliant Therapeutics by 15.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 113,383 shares of the company’s stock valued at $138,000 after buying an additional 15,349 shares during the last quarter. Algert Global LLC boosted its holdings in 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 acquiring an additional 15,692 shares in the last quarter. Eversept Partners LP boosted its holdings in Pliant Therapeutics by 2.1% in the fourth quarter. Eversept Partners LP now owns 842,023 shares of the company’s stock worth $1,027,000 after acquiring an additional 17,429 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in shares of Pliant Therapeutics by 139.4% in the second quarter. Engineers Gate Manager LP now owns 31,423 shares of the company’s stock worth $36,000 after acquiring an additional 18,300 shares during the last quarter. Institutional investors own 97.30% of the company’s stock.

Pliant Therapeutics Price Performance

Shares of PLRX opened at $1.06 on Friday. Pliant Therapeutics has a one year low of $1.05 and a one year high of $1.95. The company has a 50-day simple moving average of $1.15 and a two-hundred day simple moving average of $1.22. The firm has a market capitalization of $65.64 million, a PE ratio of -0.58 and a beta of 1.21.

Pliant Therapeutics (NASDAQ:PLRX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.04. Analysts expect that Pliant Therapeutics will post -1.31 EPS for the current fiscal 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).