Pliant Therapeutics price target lowered to $3 from $4 at Piper Sandler

Piper Sandler lowered the firm’s price target on Pliant Therapeutics (PLRX) to $3 from $4 and keeps an Overweight rating on the shares. At Q4/FY25 earnings, Pliant provided a thoughtful update to their PLN-101095 program, the firm notes. Specifically, management detailed they have begun an accelerated development plan for PLN-101095 inclusive of beginning initiation activities for an open-label Phase 1b indication expansion trial which has first patient enrollment expected Q2 2026 and interim data 2027. Piper believes 2026 will be an informative year for Pliant as they continue to progress PLN-101095 development based on key Phase 1 data which will be presented at AACR 2026.