Pliant Therapeutics (NASDAQ:PLRX) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

by · The Cerbat Gem

Pliant Therapeutics (NASDAQ:PLRX – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10, Zacks reports.

Pliant Therapeutics Stock Performance

NASDAQ:PLRX opened at $1.53 on Friday. The stock’s 50-day simple moving average is $1.60 and its 200 day simple moving average is $1.51. The firm has a market capitalization of $93.92 million, a PE ratio of -0.45 and a beta of 1.41. The company has a quick ratio of 12.99, a current ratio of 12.99 and a debt-to-equity ratio of 0.14. Pliant Therapeutics has a twelve month low of $1.10 and a twelve month high of $15.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rangeley Capital LLC grew its holdings in shares of Pliant Therapeutics by 20.4% during the 2nd quarter. Rangeley Capital LLC now owns 60,220 shares of the company’s stock valued at $70,000 after purchasing an additional 10,220 shares during the last quarter. Engineers Gate Manager LP boosted its position in Pliant Therapeutics by 139.4% in the second quarter. Engineers Gate Manager LP now owns 31,423 shares of the company’s stock valued at $36,000 after buying an additional 18,300 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in Pliant Therapeutics in the second quarter valued at approximately $95,000. Jane Street Group LLC grew its stake in shares of Pliant Therapeutics by 136.6% during the second quarter. Jane Street Group LLC now owns 323,412 shares of the company’s stock worth $375,000 after buying an additional 186,696 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Pliant Therapeutics during the second quarter worth $36,000. Institutional investors own 97.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLRX. Citigroup reissued a “neutral” rating on shares of Pliant Therapeutics in a research report on Sunday, August 10th. Piper Sandler reduced 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. Weiss Ratings restated a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Pliant Therapeutics in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Pliant Therapeutics presently has a consensus rating of “Reduce” and a consensus target price of $8.19.

Read Our Latest Report on PLRX

About Pliant Therapeutics

(Get 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, 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.

Featured Stories