Oppenheimer analyst Jeff Jones raised the firm’s price target on Pliant Therapeutics to $48 from $47 and keeps an Outperform rating on the shares following quarterly results. The key value driver for Pliant continues to be the Phase 2B study in IPF, which is anticipated to complete enrollment Q1 2025, with data around Q1 2026, the firm says. Upcoming results from a Phase 2a PET imaging study for bexo in IPF are anticipated to shed further light onto the candidate’s anti-fibrotic activity, adds Oppenheimer.
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