Pliant Therapeutics, Inc. (NASDAQ:PLRX) Receives Average Recommendation of “Buy” from Analysts

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $48.17.

PLRX has been the subject of several recent research reports. HC Wainwright assumed coverage on shares of Pliant Therapeutics in a report on Wednesday, November 3rd. They set a “buy” rating and a $45.00 target price for the company. Needham & Company LLC started coverage on shares of Pliant Therapeutics in a research report on Tuesday, August 10th. They set a “buy” rating and a $40.00 price target on the stock. Royal Bank of Canada started coverage on shares of Pliant Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $38.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Pliant Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, November 13th.

A number of hedge funds have recently modified their holdings of PLRX. Royal Bank of Canada increased its position in Pliant Therapeutics by 45.1% in the 3rd quarter. Royal Bank of Canada now owns 2,390 shares of the company’s stock valued at $40,000 after acquiring an additional 743 shares during the period. Nisa Investment Advisors LLC purchased a new stake in Pliant Therapeutics in the 2nd quarter valued at approximately $41,000. Citigroup Inc. boosted its holdings in Pliant Therapeutics by 16.8% in the 3rd quarter. Citigroup Inc. now owns 4,927 shares of the company’s stock valued at $83,000 after purchasing an additional 708 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Pliant Therapeutics in the 1st quarter valued at approximately $179,000. Finally, Invesco Ltd. boosted its holdings in Pliant Therapeutics by 17.9% in the 3rd quarter. Invesco Ltd. now owns 11,201 shares of the company’s stock valued at $189,000 after purchasing an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 85.42% of the company’s stock.

Shares of NASDAQ:PLRX traded up $0.71 on Thursday, hitting $15.02. 418,869 shares of the company’s stock were exchanged, compared to its average volume of 132,247. The stock has a market capitalization of $541.31 million, a price-to-earnings ratio of -5.84 and a beta of 1.00. Pliant Therapeutics has a 12 month low of $13.81 and a 12 month high of $43.92. The business’s 50 day simple moving average is $17.06 and its two-hundred day simple moving average is $22.42.

Pliant Therapeutics (NASDAQ:PLRX) last posted its earnings results on Tuesday, November 9th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.06). Pliant Therapeutics had a negative net margin of 914.12% and a negative return on equity of 36.28%. On average, research analysts anticipate that Pliant Therapeutics will post -2.73 earnings per share for the current fiscal year.

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. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avÃ6 and avÃ1 integrins, which is in Phase II single ascending dose/multiple ascending dose trails and completed Phase Ib proof-of-mechanism trials for the treatment of idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

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Analyst Recommendations for Pliant Therapeutics (NASDAQ:PLRX)

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