Leerink Partners analyst Faisal Khurshid has reiterated their neutral stance on PLRX stock, giving a Hold rating yesterday.
Faisal Khurshid’s rating is based on the early stage and limited data available from Pliant Therapeutics’ Phase 1 trial of PLN-101095. The trial, which involves a small number of patients, shows some promise with a 50% confirmed response rate at the highest dose level. However, the small sample size and combination with anti-PD1 make it difficult to draw definitive conclusions at this point.
Additionally, the company is at a crossroads following a setback with its lead program, bexotegrast, in idiopathic pulmonary fibrosis. The future direction of the company, whether it will focus on PLN-101095 or other early-stage opportunities, remains uncertain. The ongoing enrollment in the study’s final dose cohorts might provide more comprehensive data for better interpretation. Therefore, the Hold rating reflects the need for more data to assess the potential of PLN-101095 fully.
According to TipRanks, Khurshid is a 5-star analyst with an average return of 36.9% and a 53.23% success rate. Khurshid covers the Healthcare sector, focusing on stocks such as Pliant Therapeutics, Kymera Therapeutics, and Geron.