These Analysts Revise Their Forecasts On Pliant Therapeutics Following Q1 Earnings
Portfolio Pulse from Avi Kapoor
Pliant Therapeutics, Inc. (NASDAQ:PLRX) reported a Q1 loss of 78 cents per share, slightly worse than the expected 77 cents. R&D expenses increased to $37.1 million, and G&A expenses rose to $15.2 million. The company highlighted progress in its Phase 2a INTEGRIS-PSC trial and a Phase 2a PET imaging trial. Despite these developments, PLRX shares fell 1.4% to $13.79. Analysts from Oppenheimer, RBC Capital, Needham, and HC Wainwright & Co. adjusted their price targets on PLRX, with varying degrees of optimism.
May 07, 2024 | 3:53 pm
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Pliant Therapeutics reported a Q1 loss and saw an increase in expenses, but made significant progress in clinical trials. Shares dropped 1.4% following the earnings announcement.
The slight miss on earnings expectations and the subsequent drop in share price indicate a negative short-term impact. However, the adjustments in price targets by analysts and the company's progress in clinical trials could mitigate some of the negative sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100