Fintel reports that on May 1, 2023, Cantor Fitzgerald maintained coverage of Pliant Therapeutics (NASDAQ:PLRX) with a Overweight recommendation.
Analyst Price Forecast Suggests 65.79% Upside
As of April 24, 2023, the average one-year price target for Pliant Therapeutics is 46.84. The forecasts range from a low of 24.24 to a high of $60.90. The average price target represents an increase of 65.79% from its latest reported closing price of 28.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Pliant Therapeutics is 5MM, a decrease of 48.30%. The projected annual non-GAAP EPS is -3.02.
What is the Fund Sentiment?
There are 252 funds or institutions reporting positions in Pliant Therapeutics. This is an increase of 44 owner(s) or 21.15% in the last quarter. Average portfolio weight of all funds dedicated to PLRX is 0.44%, a decrease of 23.50%. Total shares owned by institutions increased in the last three months by 1.42% to 48,314K shares. 
The put/call ratio of PLRX is 0.39, indicating a bullish outlook.
What are Other Shareholders Doing?
Redmile Group holds 3,879K shares representing 6.56% ownership of the company. In it's prior filing, the firm reported owning 4,508K shares, representing a decrease of 16.23%. The firm decreased its portfolio allocation in PLRX by 16.05% over the last quarter.
CHI Advisors holds 3,170K shares representing 5.36% ownership of the company. In it's prior filing, the firm reported owning 3,410K shares, representing a decrease of 7.57%. The firm decreased its portfolio allocation in PLRX by 14.79% over the last quarter.
Avidity Partners Management holds 2,240K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 1,981K shares, representing an increase of 11.57%. The firm increased its portfolio allocation in PLRX by 11.51% over the last quarter.
Trv Gp Iv holds 2,133K shares representing 3.61% ownership of the company. No change in the last quarter.
Trv Gp Iii holds 1,839K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 3,839K shares, representing a decrease of 108.75%. The firm decreased its portfolio allocation in PLRX by 20.44% over the last quarter.
Pliant Therapeutics Background Information
(This description is provided by the company.)
Pliant Therapeutics is a clinical stage biopharmaceutical company focused on discovering and developing novel therapies for the treatment of fibrosis. Pliant's lead product candidate, PLN-74809, is an oral small-molecule dual selective inhibitor of avß6 and avß1 integrins that is in development for the treatment of idiopathic pulmonary fibrosis, or IPF, and primary sclerosing cholangitis, or PSC. PLN-74809 has received Orphan Drug Designation from the U.S. Food and Drug Administration for both IPF and PSC. Pliant is currently recruiting Phase 2a trials of PLN-74809 for the treatment of IPF and PSC. Pliant's second product candidate, PLN-1474, is a small-molecule selective inhibitor of avß1 for the treatment of liver fibrosis associated with nonalcoholic steatohepatitis, or NASH, which Pliant has partnered with Novartis. In addition to clinical stage programs, Pliant currently has two preclinical programs targeting oncology and muscular dystrophies.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
