Pliant Therapeutics price target raised to $38 from $36 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Pliant Therapeutics to $38 from $36 and keeps a Buy rating on the shares. Pliant confirmed that patient enrollment in BEACON-IPF, an adaptive Phase 2b/3 clinical trial of bexotegrast in patients with idiopathic pulmonary fibrosis, or IPF, remains on track, notes the firm, which increased its view on the probability-of-success for the primary sclerosing cholangitis, or PSC, program to 35% from 30% previously and lowered the overall valuation discount rate it applies to better reflect the recent progress in lowering the overall corporate risk profile.