Q3 2024 Revenue Forecast for Pliant Therapeutics, Inc. issued by Leerink Partners (NASDAQ:PLRX)

Pliant Therapeutics, Inc. (NASDAQ:PLRX – Free Report) – Stock analysts at Leerink Partnrs reduced their Q3 2024 earnings per share estimates for shares of Pliant Therapeutics in a report issued on Wednesday, August 7th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($0.93) for the quarter, down from their prior estimate of ($0.81). The consensus estimate for Pliant Therapeutics’ current full-year earnings is ($3.44) per share. Leerink Partnrs also issued estimates for Pliant Therapeutics’ Q4 2024 earnings at ($0.91) EPS, FY2024 earnings at ($3.54) EPS, FY2025 earnings at ($3.94) EPS, FY2026 earnings at ($3.94) EPS. at ($3.28) EPS, $4 and $28 at ($4) EPS. 2028 earnings at ($4.28) EPS.

Pliant Therapeutics (NASDAQ:PLRX – Get Your Free Report ) last issued its earnings results on Wednesday, August 7th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07).

A number of other equities analysts have also recently commented on PLRX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Oppenheimer cut their price objective on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada cut their price target on Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. HC Wainwright boosted their price target on Pliant Therapeutics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup reduced their price objective on Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Eight investment analysts have rated the stock with a buy rating. Based on data from MarketBeat, Pliant Therapeutics has an average rating of “Buy” and an average target price of $44.86.

Get our latest analysis on PLRX

Pliant Therapeutics Stock Performance

Shares of PLRX stock opened at $11.85 on Monday. Pliant Therapeutics has a 12-month low of $10.29 and a 12-month high of $19.62. The company’s 50-day moving average is $12.00 and its 200-day moving average is $13.79. The company has a quick ratio of 16.12, a current ratio of 16.12, and a debt-to-equity ratio of 0.07.

Institutional inputs and outputs

Several hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC raised its stake in shares of 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 worth $65,047,000 after purchasing an additional 658,516 shares in the last quarter. Mass General Brigham Inc acquired a new stake in Pliant Therapeutics in the 1st quarter worth approximately $4,301,000. Capital International Investors raised its stake in Pliant Therapeutics by 50.9% in the first quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock valued at $20,522,000 after buying an additional 464,860 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pliant Therapeutics by 13.5% in the first quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock worth $51,827,000 after buying an additional 412,486 shares in the last quarter. Finally, Granahan Investment Management LLC boosted its stake in shares of Pliant Therapeutics by 22.5% during the fourth quarter. Granahan Investment Management LLC now owns 1,150,766 shares of the company’s stock worth $20,840,000 after purchasing an additional 211,557 shares during the period. 97.30% of shares are owned by institutional investors and hedge funds.

Insider buying and selling

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of Pliant Therapeutics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $88,503.36. Following the transaction, the general counsel now owns 94,044 shares in the company, valued at $1,087,148.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, General Counsel Mike Ouimette sold 7,656 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $88,503.36. Following the completion of the sale, the general counsel now owns 94,044 shares of the company’s stock, valued at $1,087,148.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bernard Coulie sold 38,710 shares of Pliant Therapeutics stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $447,487.60. Following the completion of the transaction, the chief executive officer now directly owns 482,936 shares in the company, valued at $5,582,740.16. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock worth $804,530 over the last three months. 6.40% of shares are held by insiders.

Pliant Therapeutics Company Profile

(Get a free report)

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, a dual selective, oral, small molecule inhibitor of αvß6 and αvß1 integrins, which is in Phase 2b trials for idiopathic pulmonary fibrosis and Phase 2a trials for primary sclerosing cholangitis.

Further reading

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