Pliant Therapeutics price target lowered to $48 from $52 at H.C. Wainwright

H.C. Wainwright analyst Ed Arce lowered the firm’s price target on Pliant Therapeutics to $48 from $52 and keeps a Buy rating on the shares. After initially encouraging results in primary sclerosing cholangitis, the bexotegrast 320 mg data “are rather anticlimactic,” the analyst tells investors in a research note. The firm says these results weaken the prospects of the Pliant’s PSC program.