Q3 2024 EPS Estimates for Pliant Therapeutics, Inc. (NASDAQ:PLRX) Lowered by Analyst

Pliant Therapeutics, Inc. (NASDAQ:PLRX) – Stock analysts at Leerink Partnrs dropped their Q3 2024 EPS estimates for shares of Pliant Therapeutics in a note issued to investors on Wednesday, August 7th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings of ($0.93) per share for the quarter, down from their previous 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 ($4.28) EPS, FY2027 earnings at ($4.63) EPS and FY2028 earnings at ($4.28) EPS.

A number of other research firms have also weighed in on PLRX. Citigroup lowered their price target on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Oppenheimer lowered their target price on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research note 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 on the stock in a research note on Tuesday, May 7th. HC Wainwright raised their price objective on Pliant Therapeutics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $44.86.

Pliant Therapeutics Stock Performance

PLRX opened at $12.27 on Monday. The firm’s 50 day moving average is $12.00 and its 200-day moving average is $13.75. Pliant Therapeutics has a 52-week low of $10.29 and a 52-week high of $19.62. The company has a current ratio of 16.12, a quick ratio of 16.12 and a debt-to-equity ratio of 0.07.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLRX. Arizona State Retirement System boosted its position in Pliant Therapeutics by 6.4% during the 4th quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock worth $227,000 after acquiring an additional 754 shares during the period. ProShare Advisors LLC lifted its position in shares of Pliant Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after purchasing an additional 1,203 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Pliant Therapeutics during the fourth quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. grew its position in Pliant Therapeutics by 67.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock valued at $173,000 after purchasing an additional 4,652 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Pliant Therapeutics by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock valued at $3,282,000 after purchasing an additional 5,152 shares in the last quarter. Hedge funds and other institutional investors own 97.30% of the company’s stock.

Insider Buying and Selling

In other news, CEO Bernard Coulie sold 38,710 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $447,487.60. Following the sale, the chief executive officer now owns 482,936 shares of the company’s stock, valued at approximately $5,582,740.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pliant Therapeutics news, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics 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 $126,131.16. Following the transaction, the chief financial officer now directly owns 282,115 shares in the company, valued at approximately $3,261,249.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bernard Coulie sold 38,710 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $447,487.60. Following the sale, 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 sold 69,596 shares of company stock valued at $804,530 over the last 90 days. 6.40% of the stock is currently owned by company insiders.

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.