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H.C. Wainwright Thinks Pliant Therapeutics’ Stock is Going to Recover

In a report issued on June 23, Ed Arce from H.C. Wainwright maintained a Buy rating on Pliant Therapeutics (PLRXResearch Report), with a price target of $45.00. The company’s shares closed last Friday at $8.18, close to its 52-week low of $3.97.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 5.2% and a 37.0% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Aurinia Pharmaceuticals, and Paratek Pharmaceuticals.

Pliant Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $35.00, representing a 317.7% upside. In a report issued on June 13, RBC Capital also reiterated a Buy rating on the stock with a $35.00 price target.

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Based on Pliant Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.25 million and GAAP net loss of $28.1 million. In comparison, last year the company earned revenue of $2.17 million and had a GAAP net loss of $22.86 million.

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Pliant Therapeutics Inc is a clinical stage biopharmaceutical company focused on discovering and developing novel therapies for the treatment of fibrosis. Its lead product candidate, PLN-74809, is an oral small-molecule dual that helps in the treatment of idiopathic pulmonary fibrosis.

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