Zenas BioPharma, Inc., the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Matthew Caufield from H.C. Wainwright reiterated a Buy rating on the stock and has a $30.00 price target.
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Matthew Caufield has given his Buy rating due to a combination of factors surrounding the promising developments of Zenas BioPharma’s obexelimab platform. The company is advancing its pivotal Phase 3 INDIGO trial for the treatment of immunoglobulin G4-related disease (IgG4-RD), with topline results expected by the end of 2025. Additionally, obexelimab is being evaluated in the Phase 2 MoonStone trial for relapsing multiple sclerosis and the Phase 2 SunStone trial for systemic lupus erythematosus, with significant milestones anticipated in the coming years.
Caufield highlights the potential of obexelimab to offer a differentiated approach in autoimmune disease management, particularly due to its self-administered subcutaneous injection format, which contrasts with existing treatments that require intravenous infusions. This convenience, along with its mechanism that avoids B cell depletion, positions obexelimab as a potentially safer and more convenient option. The broad development pipeline and the potential for therapeutic benefit in various autoimmune conditions underpin Caufield’s confidence in maintaining a Buy rating and a $30 price target for Zenas BioPharma.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $31.00 price target.