H.C. Wainwright analyst Ed Arce has maintained their neutral stance on PLRX stock, giving a Hold rating on March 4.
Ed Arce has given his Hold rating due to a combination of factors surrounding the current clinical progress and future potential of Pliant Therapeutics. The interim data from the Phase 1 study of PLN-101095 shows promising anti-tumor activity, particularly in patients with immune checkpoint inhibitor-refractory advanced or metastatic solid tumors. Despite these encouraging results, the study is still in early stages, and further data is needed to fully assess the drug’s efficacy and safety profile.
Moreover, while PLN-101095 has demonstrated potential in targeting integrins to inhibit TGF-β, which is crucial for overcoming immunosuppressive tumor environments, the broader implications for Pliant’s pipeline remain uncertain. The company’s most advanced program, bexotegrast for idiopathic pulmonary fibrosis, is still under evaluation, and its outcome will significantly influence Pliant’s valuation. Given these uncertainties and the early nature of the current findings, Ed Arce maintains a Neutral stance on PLRX shares, awaiting more comprehensive data from ongoing and future studies.
Arce covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Akebia Therapeutics, and Pliant Therapeutics. According to TipRanks, Arce has an average return of 15.9% and a 47.00% success rate on recommended stocks.
In another report released on March 4, Leerink Partners also downgraded the stock to a Hold with a $2.00 price target.