RBC Capital analyst Brian Abrahams lowered the firm’s price target on Pliant Therapeutics to $58 from $60 but keeps an Outperform rating on the shares after its Q4 results. The company’s six-month high-dose 320 mg data on Bexotegrast remain on track for Q2, and a continued delta between drug and placebo arms on lung function alongside good safety should further de-risk the program, the analyst tells investors in a research note. The firm adds that Pliant Therapeutics’ INTEGRIS PSC data in Q3 remains higher risk but likely still overlooked.
Published first on TheFly
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