Oppenheimer Downgrades Pliant Therapeutics (PLRX) to Perform

Oppenheimer analyst Jeff Jones downgraded Pliant Therapeutics (NASDAQ: PLRX) from Outperform to Perform.

The analyst comments "Friday afternoon PLRX announced a voluntary pause to the enrollment, and dosing, of their Phase 2b BEACON trial based on the recommendation of their DSMB (press release). Management has not provided further detail at this time, indicating that the data is being reviewed to understand the rationale for the DSMB's recommendation. Given the pivotal nature of the trial this is being done while maintaining the blinded nature of the study. We move to Perform and remove our PT, while awaiting further clarity on the DSMB's reason for recommending the pause, and the path forward for PLRX's key asset bexotegrast. Downgrade to Perform from Outperform."

For an analyst ratings summary and ratings history on Pliant Therapeutics click here. For more ratings news on Pliant Therapeutics click here.

Shares of Pliant Therapeutics closed at $7.79 yesterday.

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