Promising Developments and Risk-Reward Profile Justify Buy Rating for Pyxis Oncology

Jeffrey La Rosa, an analyst from Leerink Partners, maintained the Buy rating on Pyxis Oncology (PYXS – Research Report). The associated price target was lowered to $7.00.

Jeffrey La Rosa has given his Buy rating due to a combination of factors surrounding Pyxis Oncology’s promising developments. The company is advancing its lead candidate, micvotabart pelidotin, an EDB-FN-targeted antibody drug conjugate, towards a significant Phase 1 update in the second half of 2025 for squamous cell carcinoma of the head and neck. This progress is seen as a positive indicator, especially with the increased patient enrollment in both monotherapy and combination therapy cohorts, suggesting heightened interest and confidence in the study’s potential outcomes.
Despite the stock’s underperformance year-to-date and prevailing investor skepticism, La Rosa sees an attractive risk-reward profile for Pyxis Oncology. The biologic, preclinical, and clinical data supporting micvotabart pelidotin’s potential in treating squamous cell carcinoma of the head and neck provide a basis for optimism. This, combined with the expectation of more interpretable data from the upcoming Phase 1 update, underpins La Rosa’s positive outlook and Buy rating for the stock.

In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $5.00 price target.