Judah Frommer, an analyst from Morgan Stanley, maintained the Buy rating on Zenas BioPharma, Inc.. The associated price target remains the same with $31.00.
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Judah Frommer’s rating is based on the strategic funding agreement Zenas BioPharma has secured with Royalty Pharma, which provides a significant financial boost and validation for their lead product, obexelimab. The deal includes an upfront payment of $75 million and potential additional payments totaling $225 million, contingent upon achieving key developmental and regulatory milestones.
This agreement not only extends Zenas BioPharma’s cash runway through the first quarter of 2027 but also underscores the commercial potential of obexelimab, particularly in the treatment of IgG4-RD. The financial backing and endorsement from Royalty Pharma enhance confidence in Zenas BioPharma’s future prospects, making the stock an attractive buy recommendation.
According to TipRanks, Frommer is an analyst with an average return of -4.8% and a 49.31% success rate. Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, RegenXBio, and PTC Therapeutics.