In a report released yesterday, Sean Lee from Citi maintained a Buy rating on Pyxis Oncology (PYXS – Research Report), with a price target of $5.00.
Sean Lee has given his Buy rating due to a combination of factors that highlight Pyxis Oncology’s promising prospects. The company’s lead candidate, micvotabart pelidotin (MICVO), has shown a strong clinical profile in the treatment of head and neck squamous cell carcinoma (HNSCC), achieving a notable objective response rate and a favorable safety profile in early trials. This positions MICVO as a potentially valuable asset in Pyxis’ pipeline, especially as the company focuses on this indication to drive value creation.
Furthermore, Pyxis’ strategic focus on advancing MICVO in combination with pembrolizumab and as a monotherapy in later lines of therapy could enhance its efficacy and competitive positioning. Financially, Pyxis reported revenues in line with expectations and holds sufficient cash reserves to support operations into the second half of 2026. The valuation, based on a risk-adjusted net present value analysis, supports a price target of $5.00 per share, reflecting confidence in the company’s future revenue potential despite inherent risks in clinical and regulatory pathways.