Pliant Therapeutics (NASDAQ:PLRX) Earns Sell (E+) Rating from Weiss Ratings

Pliant Therapeutics (NASDAQ:PLRX)‘s stock had its “sell (e+)” rating restated by analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other equities research analysts have also recently commented on PLRX. Piper Sandler dropped their target price on Pliant Therapeutics from $17.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Citigroup reissued a “neutral” rating on shares of Pliant Therapeutics in a report on Sunday, August 10th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Pliant Therapeutics in a report on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $8.19.

Pliant Therapeutics Stock Performance

PLRX opened at $1.81 on Friday. Pliant Therapeutics has a twelve month low of $1.10 and a twelve month high of $16.10. The stock has a market cap of $111.12 million, a PE ratio of -0.53 and a beta of 1.40. The business’s 50 day moving average is $1.58 and its 200-day moving average is $1.49. The company has a current ratio of 12.99, a quick ratio of 12.99 and a debt-to-equity ratio of 0.14.

Pliant Therapeutics (NASDAQ:PLRX) last announced its earnings results on Thursday, August 7th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.09). On average, analysts predict that Pliant Therapeutics will post -3.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cormorant Asset Management LP acquired a new position in Pliant Therapeutics in the first quarter worth approximately $4,050,000. Woodline Partners LP grew its position in Pliant Therapeutics by 1,875.0% during the 1st quarter. Woodline Partners LP now owns 2,514,084 shares of the company’s stock worth $3,394,000 after purchasing an additional 2,386,789 shares in the last quarter. JPMorgan Chase & Co. grew its position in Pliant Therapeutics by 307.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,958,433 shares of the company’s stock worth $2,272,000 after purchasing an additional 1,477,336 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Pliant Therapeutics during the 1st quarter worth approximately $1,642,000. Finally, Peapod Lane Capital LLC grew its position in Pliant Therapeutics by 39.2% during the 2nd quarter. Peapod Lane Capital LLC now owns 893,730 shares of the company’s stock worth $1,037,000 after purchasing an additional 251,537 shares in the last quarter. 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.