Mitchell Kapoor, an analyst from H.C. Wainwright, reiterated the Buy rating on Instil Bio. The associated price target remains the same with $125.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding Instil Bio’s recent developments and financial outlook. The impressive early efficacy data from the Phase 2 trial of AXN-2510 combined with chemotherapy in first-line non-small cell lung cancer (NSCLC) in China, showing high partial response rates and favorable safety profile, is a key factor. Although the data is preliminary and from a small sample, it is seen as encouraging and risk-mitigating as the company prepares for more mature readouts.
Additionally, the upcoming presentation of monotherapy data at the World Conference on Lung Cancer (WCLC) is expected to highlight promising results in relapsed/refractory squamous NSCLC, with an objective response rate of 29.4%, which is considered clinically meaningful. Financially, despite a higher-than-expected net loss due to a one-time milestone payment, Instil Bio’s cash position is strong enough to support operations beyond 2026. These factors collectively support the reiterated Buy rating and a 12-month price target of $125 per share.