Pliant Therapeutics price target raised to $55 from $36 at Citi

Citi analyst David Lebowitz raised the firm’s price target on Pliant Therapeutics to $55 from $36 and keeps a Buy rating on the shares. The company released interim results from 320mg bexotegrast cohort in Phase IIa trial in idiopathic pulmonary fibrosis showing promising safety and efficacy as an add-on therapy to standard of care, the analyst tells investors in a research note. The firm updated the model to reflect bexotegrast’s higher probability of success.