H.C. Wainwright analyst Matthew Caufield reiterated a Buy rating on Zenas BioPharma, Inc. today and set a price target of $44.00.
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Matthew Caufield has given his Buy rating due to a combination of factors related to Zenas BioPharma’s development of orelabrutinib, a BTK inhibitor, which shows promise in treating progressive multiple sclerosis (MS). Despite a recent setback for a competitor’s BTK inhibitor, Sanofi’s tolebrutinib, Caufield believes that Zenas BioPharma’s orelabrutinib remains differentiated due to its unique pharmacokinetics profile and pivotal trial design. This differentiation is underscored by a higher CNS concentration and a primary endpoint that aligns with successful trials from other competitors, such as Roche’s fenebrutinib.
Furthermore, Caufield highlights the positive Phase 2b results for orelabrutinib in systemic lupus erythematosus (SLE), which supports the drug’s profile beyond MS. He also notes the potential of Zenas BioPharma’s broader autoimmune platform, including upcoming trials for other candidates. These factors, combined with the unwarranted decline in ZBIO shares, reinforce Caufield’s confidence in the stock, leading to the reiteration of a Buy rating and a price target of $44.