Pyxis Oncology, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on the stock and has a $8.00 price target.
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Sam Slutsky has given his Buy rating due to a combination of factors related to Pyxis Oncology’s development of their lead asset, MICVO, which has shown promising efficacy in treating head and neck squamous cell carcinoma (HNSCC). The initial data from the Phase 1 study indicated a notable efficacy signal in HNSCC patients, prompting the company to focus its development efforts on this patient group.
Pyxis Oncology has outlined a strategic plan for the continued development of MICVO, including several clinical trials targeting different patient cohorts. These trials are designed to assess MICVO’s efficacy both as a monotherapy and in combination with other treatments such as Keytruda. The company’s collaboration with Merck for the Keytruda combination trial further strengthens its position. Additionally, while the company’s financials indicate a limited cash runway, the potential for positive clinical outcomes could enhance its valuation and justify the Buy rating.
In another report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $9.00 price target.