Pliant Therapeutics, Inc. (PLRX) Soars 14.3%: Is Further Upside Left in the Stock?
Pliant Therapeutics, Inc. PLRX shares ended the last trading session 14.3% higher at $16.67. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.9% loss over the past four weeks.
Share price surged as the company announced that its mid stage INTEGRIS-PSC study on lead pipeline candidate, bexotegrast for patients with primary sclerosing cholangitis, met its primary and secondary endpoints. The study demonstrated that the candidate was well tolerated over a 12-week treatment period and its plasma concentrations increased with dose.
This company is expected to post quarterly loss of $0.78 per share in its upcoming report, which represents a year-over-year change of -20%. Revenues are expected to be $2.66 million, up 79.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Pliant Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PLRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Pliant Therapeutics, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Ikena Oncology, Inc. IKNA, another stock in the same industry, closed the last trading session 6.4% lower at $4.42. IKNA has returned -1.9% in the past month.
For Ikena Oncology, Inc. , the consensus EPS estimate for the upcoming report has changed +4.2% over the past month to -$0.44. This represents a change of +8.3% from what the company reported a year ago. Ikena Oncology, Inc. currently has a Zacks Rank of #3 (Hold).
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