H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating on Instil Bio today and set a price target of $125.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors that enhance the outlook for Instil Bio. The recent success of the HARMONi-A trial, which demonstrated a statistically significant overall survival benefit for PD-1 x VEGF therapies, bolsters confidence in Instil’s AXN-2510. This trial’s results mitigate risks associated with the class of bispecifics, suggesting a promising future for Instil’s differentiated PD-L1 x VEGF bispecific, which incorporates advanced cytotoxicity and VEGF-trap features.
Furthermore, early data from Instil Bio’s Phase 2 trial in China for first-line NSCLC patients show high overall response rates and a favorable safety profile, reinforcing the potential of AXN-2510. The improved perception of China-generated oncology data, validated by the HARMONi-A trial, adds credibility to these findings. Additionally, the valuation gap between Instil and its peers highlights significant upside potential, as evidenced by recent high-value deals in the sector. These factors collectively support the Buy rating and suggest that Instil Bio’s current market valuation does not fully reflect its growth prospects.