Pliant Therapeutics, Inc. (NASDAQ:PLRX – Free Report) – Equities research analysts at Leerink Partnrs cut their Q3 2023 earnings per share (EPS) estimates for Pliant Therapeutics in a report released on Wednesday, August 9th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings of ($0.74) per share for the quarter, down from their prior forecast of ($0.70). The consensus estimate for Pliant Therapeutics’ current full-year earnings is ($2.99) per share. Leerink Partnrs also issued estimates for Pliant Therapeutics’ Q4 2023 earnings at ($0.78) EPS, FY2023 earnings at ($2.88) EPS, FY2024 earnings at ($3.39) EPS, FY2025 earnings at ($3.62) EPS, FY2026 earnings at ($4.27) EPS and FY2027 earnings at ($4.94) EPS.
Pliant Therapeutics (NASDAQ:PLRX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.03. The firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $1.10 million. Pliant Therapeutics had a negative return on equity of 33.10% and a negative net margin of 2,872.79%.
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Pliant Therapeutics Trading Down 4.0 %
Shares of NASDAQ:PLRX opened at $18.03 on Monday. Pliant Therapeutics has a 12-month low of $16.42 and a 12-month high of $36.64. The stock has a market cap of $1.07 billion, a PE ratio of -6.58 and a beta of 1.24. The business has a 50 day moving average of $19.56 and a 200-day moving average of $24.71. The company has a quick ratio of 25.41, a current ratio of 19.16 and a debt-to-equity ratio of 0.02.
Insider Buying and Selling at Pliant Therapeutics
In other Pliant Therapeutics news, CEO Bernard Coulie sold 70,150 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $18.01, for a total transaction of $1,263,401.50. Following the completion of the transaction, the chief executive officer now directly owns 342,103 shares in the company, valued at $6,161,275.03. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Mike Ouimette sold 4,755 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $17.55, for a total transaction of $83,450.25. Following the completion of the transaction, the general counsel now directly owns 60,443 shares in the company, valued at $1,060,774.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bernard Coulie sold 70,150 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $18.01, for a total transaction of $1,263,401.50. Following the transaction, the chief executive officer now owns 342,103 shares of the company’s stock, valued at $6,161,275.03. The disclosure for this sale can be found here. Insiders sold a total of 142,844 shares of company stock worth $2,596,440 over the last three months. Corporate insiders own 5.60% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of PLRX. BlackRock Inc. increased its holdings in shares of Pliant Therapeutics by 141.1% during the second quarter. BlackRock Inc. now owns 4,406,820 shares of the company’s stock worth $79,852,000 after buying an additional 2,578,692 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Pliant Therapeutics during the third quarter worth $25,734,000. Fred Alger Management LLC increased its holdings in Pliant Therapeutics by 5,269.5% in the first quarter. Fred Alger Management LLC now owns 1,076,635 shares of the company’s stock valued at $28,638,000 after purchasing an additional 1,056,584 shares during the period. Capital International Investors acquired a new stake in Pliant Therapeutics in the second quarter valued at $16,534,000. Finally, Deutsche Bank AG increased its holdings in Pliant Therapeutics by 257.3% in the first quarter. Deutsche Bank AG now owns 1,126,529 shares of the company’s stock valued at $29,966,000 after purchasing an additional 811,221 shares during the period. 95.01% of the stock is currently owned by institutional investors and hedge funds.
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 three Phase IIa trials for idiopathic pulmonary fibrosis and primary sclerosing cholangitis.
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