Analyst Michael Okunewitch of Maxim Group maintained a Buy rating on HCW Biologics, retaining the price target of $35.00.
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Michael Okunewitch has given his Buy rating due to a combination of factors surrounding HCW Biologics’ recent advancements. The company has selected HCW11-040 as a lead candidate for clinical development from its next-generation checkpoint inhibitor program. This candidate combines pembrolizumab with additional components like IL-7, IL-15, and a TGF-β trap, aiming to enhance the effectiveness of existing cancer therapies by targeting Progenitor Exhausted T (TPEX) cells.
Preclinical studies have shown that HCW11-040 outperforms pembrolizumab alone in several key areas such as immune-cell activation, expansion, and infiltration into tumors, as well as cytotoxicity against cancer cells. Importantly, these enhancements do not overstimulate the immune system, reducing the risk of adverse effects. These promising results, along with the potential to address significant unmet needs in cancer treatment, underpin Okunewitch’s positive outlook on HCW Biologics’ stock.