Leerink Partnrs Research Analysts Increase Earnings Estimates for Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Pliant Therapeutics, Inc. (NASDAQ:PLRX) – Stock analysts at Leerink Partnrs boosted their Q2 2024 EPS estimates for shares of Pliant Therapeutics in a report released 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 previous 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.

PLRX has been the topic of a number of other reports. Citigroup dropped their price objective on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday. Oppenheimer lifted their price target on shares of Pliant Therapeutics from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada decreased their target price on shares of Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of Pliant Therapeutics in a research report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Tuesday. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pliant Therapeutics has an average rating of “Buy” and a consensus price target of $45.67.

Pliant Therapeutics Price Performance

Shares of PLRX stock opened at $13.81 on Thursday. The firm has a market capitalization of $833.02 million, a price-to-earnings ratio of -4.99 and a beta of 1.19. Pliant Therapeutics has a 1 year low of $11.21 and a 1 year high of $24.74. The company has a current ratio of 17.72, a quick ratio of 17.72 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $14.19 and its 200-day moving average is $15.39.

Institutional Investors Weigh In On Pliant Therapeutics

Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its stake in shares of Pliant Therapeutics by 97.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock worth $27,000 after purchasing an additional 754 shares during the last quarter. Quest Partners LLC purchased a new stake in Pliant Therapeutics during the fourth quarter valued at $37,000. SG Americas Securities LLC bought a new position in Pliant Therapeutics in the first quarter valued at about $107,000. Corton Capital Inc. purchased a new position in Pliant Therapeutics in the third quarter worth about $197,000. Finally, Rathbones Group PLC purchased a new stake in shares of Pliant Therapeutics during the 3rd quarter valued at about $203,000. 97.30% of the stock is currently owned by institutional investors.

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. 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.