Pliant Therapeutics price target lowered to $50 from $53 at RBC Capital

RBC Capital lowered the firm’s price target on Pliant Therapeutics to $50 from $53 and keeps an Outperform rating on the shares. The company’s bexo IPF program remains on track, with the phase 2b continuing to enroll, and while a clear path forward in the PSC- or primary sclerosing cholangitis – indication remains unknown until the FDA meeting mid-year, the upcoming 24-week PSC data should further support bexo’s clinical profile and safety, the analyst tells investors in a research note.