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

Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) have earned a consensus recommendation of “Reduce” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $3.00.

Several brokerages recently commented on PLRX. Wall Street Zen raised shares of Pliant Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pliant Therapeutics in a research note on Friday, July 17th.

Pliant Therapeutics Stock Performance

NASDAQ:PLRX opened at $1.09 on Friday. The company has a market capitalization of $67.49 million, a P/E ratio of -0.59 and a beta of 1.21. Pliant Therapeutics has a 12 month low of $1.05 and a 12 month high of $1.95. The business’s 50-day moving average is $1.16 and its 200 day moving average is $1.22.

Pliant Therapeutics (NASDAQ:PLRX) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.04. On average, research analysts forecast that Pliant Therapeutics will post -1.31 earnings per share for the current year.

Institutional Investors Weigh In On Pliant Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new stake in Pliant Therapeutics during the second quarter worth $30,000. Public Employees Retirement System of Ohio purchased a new position in shares of Pliant Therapeutics during the 1st quarter worth $36,000. Engineers Gate Manager LP grew its holdings in shares of Pliant Therapeutics by 139.4% during the 2nd quarter. Engineers Gate Manager LP now owns 31,423 shares of the company’s stock worth $36,000 after purchasing an additional 18,300 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Pliant Therapeutics during the 2nd quarter worth about $36,000. Finally, HRT Financial LP acquired a new stake in shares of Pliant Therapeutics during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 97.30% of the company’s stock.

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).