Zenas BioPharma, Inc., the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on the stock and has a $31.00 price target.
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Judah Frommer has given his Buy rating due to a combination of factors including the innovative approach Zenas BioPharma is taking with their bifunctional monoclonal antibody, obexelimab. This drug targets both CD19 and FcγRIIb, aiming to inhibit B cells implicated in autoimmune conditions without depleting them, which could reduce safety concerns such as infection risk and preserve vaccine response.
Frommer is optimistic about the potential of obexelimab, especially as it is being tested in Phase II and Phase III studies across multiple indications. The upcoming clinical trial results, particularly the Phase III INDIGO trial for IgG4-RD expected by the end of 2025, are seen as significant catalysts. The current trading price of the shares, slightly above cash, and the anticipated critical milestones in late 2025 and early 2026 further support the Overweight rating with a price target of $31.