TipRanksStock Market NewsPLRX NewsPliant Therapeutics (PLRX) Received its Third Buy in a Row

Pliant Therapeutics (PLRX) Received its Third Buy in a Row

After RBC Capital and Piper Sandler gave Pliant Therapeutics (NASDAQ: PLRX) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ed Arce maintained a Buy rating on Pliant Therapeutics yesterday and set a price target of $45.00. The company’s shares closed last Monday at $23.00.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 8.0% and a 39.5% 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 $40.20, implying a 151.1% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $36.00 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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