H.C. Wainwright has maintained a Buy rating on Pliant Therapeutics (NASDAQ: PLRX) with a price target of $38.00.
The reaffirmation comes following Pliant's participation in the European Respiratory Society (ERS) International Congress 2024, which took place from September 7 to September 11 in Vienna, Austria.
During the congress, Pliant Therapeutics presented two late-breaker oral presentations that detailed the anti-fibrotic capabilities of bexotegrast, the company's dual αvβ6/αvβ1 integrin inhibitor. The presentations provided new insights into the drug's potential effectiveness.
The firm's analyst highlighted the significance of these presentations, noting that they helped to further understand bexotegrast's role in treating fibrotic diseases.
The positive data presented at the ERS Congress supports the analyst's confidence in Pliant's therapeutic candidate.
Pliant Therapeutics is focused on the discovery and development of novel therapies for the treatment of fibrosis.
The company's progress and the recent findings presented at the ERS International Congress are of particular interest to investors and stakeholders in the biopharmaceutical sector.
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