Pliant Therapeutics, Inc. (NASDAQ:PLRX) Forecasted to Post Q2 2024 Earnings of ($0.81) Per Share

Pliant Therapeutics, Inc. (NASDAQ:PLRX) – Stock analysts at Leerink Partnrs increased their Q2 2024 earnings estimates for Pliant Therapeutics in a research note issued to investors on Monday, May 6th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings of ($0.81) per share for the quarter, up from their prior estimate of ($0.85). The consensus estimate for Pliant Therapeutics’ current full-year earnings is ($3.27) per share. Leerink Partnrs also issued estimates for Pliant Therapeutics’ Q3 2024 earnings at ($0.81) EPS, Q4 2024 earnings at ($0.80) EPS, FY2024 earnings at ($3.20) EPS, FY2025 earnings at ($3.48) EPS, FY2026 earnings at ($3.82) EPS, FY2027 earnings at ($4.22) EPS and FY2028 earnings at ($3.90) EPS.

A number of other brokerages have also recently issued reports on PLRX. Citigroup cut their target price on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday. Oppenheimer lifted their target price on shares of Pliant Therapeutics from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of Pliant Therapeutics in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Pliant Therapeutics currently has an average rating of “Buy” and an average price target of $45.67.

Pliant Therapeutics Stock Down 2.8 %

PLRX stock opened at $13.41 on Thursday. The company has a market cap of $808.89 million, a P/E ratio of -4.81 and a beta of 1.19. Pliant Therapeutics has a 52 week low of $11.21 and a 52 week high of $24.74. The company’s 50-day moving average price is $14.25 and its 200 day moving average price is $15.41. The company has a current ratio of 17.72, a quick ratio of 17.72 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On Pliant Therapeutics

Institutional investors have recently modified their holdings of the company. First Light Asset Management LLC grew its holdings in Pliant Therapeutics by 22.4% in the fourth quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock valued at $65,047,000 after purchasing an additional 658,516 shares during the period. Rhenman & Partners Asset Management AB purchased a new stake in Pliant Therapeutics in the third quarter valued at approximately $5,733,000. Mass General Brigham Inc purchased a new stake in Pliant Therapeutics in the first quarter valued at approximately $4,301,000. UBS Group AG grew its holdings in Pliant Therapeutics by 8,855.2% in the third quarter. UBS Group AG now owns 270,804 shares of the company’s stock valued at $4,696,000 after purchasing an additional 267,780 shares during the period. Finally, Granahan Investment Management LLC grew its holdings in Pliant Therapeutics by 22.5% in the fourth quarter. Granahan Investment Management LLC now owns 1,150,766 shares of the company’s stock valued at $20,840,000 after purchasing an additional 211,557 shares during the period. Institutional investors and hedge funds own 97.30% of the company’s stock.

Pliant Therapeutics Company Profile

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.