RBC Capital Thinks Pliant Therapeutics’ Stock is Going to Recover

In a report issued on June 24, Brian Abrahams from RBC Capital maintained a Buy rating on Pliant Therapeutics (PLRXResearch Report), with a price target of $35.00. The company’s shares closed last Tuesday at $7.66, close to its 52-week low of $3.97.

According to TipRanks.com, Abrahams is a 1-star analyst with an average return of -1.5% and a 45.2% success rate. Abrahams covers the Healthcare sector, focusing on stocks such as Intra-Cellular Therapies, Karyopharm Therapeutics, and Vertex Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pliant Therapeutics with a $35.00 average price target, a 300.9% upside from current levels. In a report issued on June 17, H.C. Wainwright also maintained a Buy rating on the stock with a $45.00 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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