Pliant Therapeutics, Inc. (NASDAQ:PLRX – Get Free Report) shot up 0.9% during mid-day trading on Friday . The stock traded as high as $1.14 and last traded at $1.14. 321,031 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 453,508 shares. The stock had previously closed at $1.13.
Wall Street Analysts Forecast Growth
Several research firms have commented on PLRX. Canaccord Genuity Group cut their price objective on Pliant Therapeutics from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Friday, March 13th. Wall Street Zen upgraded 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 Tuesday, April 21st. Finally, Piper Sandler dropped their price target on Pliant Therapeutics from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Pliant Therapeutics presently has a consensus rating of “Reduce” and a consensus target price of $3.00.
Read Our Latest Stock Analysis on PLRX
Pliant Therapeutics Stock Performance
Pliant Therapeutics (NASDAQ:PLRX – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.04. On average, analysts forecast that Pliant Therapeutics, Inc. will post -1.37 earnings per share for the current year.
Institutional Trading of Pliant Therapeutics
Large investors have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in Pliant Therapeutics by 42.2% during the 1st quarter. Invesco Ltd. now owns 68,963 shares of the company’s stock worth $93,000 after purchasing an additional 20,449 shares during the period. Royal Bank of Canada boosted its stake in shares of Pliant Therapeutics by 222.4% in the 1st quarter. Royal Bank of Canada now owns 362,702 shares of the company’s stock valued at $491,000 after buying an additional 250,185 shares during the period. AQR Capital Management LLC acquired a new position in shares of Pliant Therapeutics during the first quarter worth about $97,000. Goldman Sachs Group Inc. grew its position in shares of Pliant Therapeutics by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 475,877 shares of the company’s stock worth $642,000 after buying an additional 29,177 shares in the last quarter. Finally, Woodline Partners LP increased its stake in shares of Pliant Therapeutics by 1,875.0% during the first quarter. Woodline Partners LP now owns 2,514,084 shares of the company’s stock worth $3,394,000 after buying an additional 2,386,789 shares during the period. 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).
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