Pliant Therapeutics price target raised to $63 from $52 at Cantor Fitzgerald

Cantor Fitzgerald analyst Pete Stavropoulos raised the firm’s price target on Pliant Therapeutics to $63 from $52 and keeps an Overweight rating on the shares. Pliant’s 24-week data from the Phase 2a INTEGRIS-IPF study of the high dose of bexotegrast in idiopathic pulmonary fibrosis patients continued to show clear signals of a treatment effect, suggesting continued efficacy/durability, the analyst tells investors in a research note. The firm notes that there were no drug-related serious adverse events reported, increasing its conviction about bexo’s safety profile.