Pliant Therapeutics (NASDAQ:PLRX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Pliant Therapeutics (NASDAQ:PLRX) announced its quarterly earnings data on Monday. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.04, FiscalAI reports.

Pliant Therapeutics Stock Down 1.6%

Shares of NASDAQ:PLRX opened at $1.20 on Tuesday. Pliant Therapeutics has a 52 week low of $1.09 and a 52 week high of $1.95. The stock has a market capitalization of $74.30 million, a P/E ratio of -0.49 and a beta of 1.20. The firm has a fifty day simple moving average of $1.29 and a two-hundred day simple moving average of $1.34.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pliant Therapeutics in a research note on Tuesday, April 21st. Piper Sandler cut their target price on shares of Pliant Therapeutics from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Canaccord Genuity Group cut their target price on shares of Pliant Therapeutics from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Friday, March 13th. Finally, Wall Street Zen cut shares of Pliant Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $3.00.

Hedge Funds Weigh In On Pliant Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Jump Financial LLC purchased a new position in shares of Pliant Therapeutics in the 2nd quarter worth $30,000. Canada Pension Plan Investment Board purchased a new position in shares of Pliant Therapeutics in the 2nd quarter worth $36,000. Engineers Gate Manager LP grew its stake in shares of Pliant Therapeutics by 139.4% in the 2nd quarter. Engineers Gate Manager LP now owns 31,423 shares of the company’s stock worth $36,000 after buying an additional 18,300 shares in the last quarter. HRT Financial LP purchased a new position in shares of Pliant Therapeutics in the 4th quarter worth $39,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Pliant Therapeutics in the 4th quarter worth $47,000. 97.30% of the stock is owned by hedge funds and other institutional investors.

About Pliant Therapeutics

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).