William Blair analyst Matt Phipps has maintained their bullish stance on XNCR stock, giving a Buy rating yesterday.
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Matt Phipps has given his Buy rating due to a combination of factors demonstrated in Xencor’s recent financial and clinical updates. The company reported promising initial Phase I data for its XmAb819 bispecific T-cell engager in clear cell renal cell carcinoma, showing a 25% overall response rate among efficacy-evaluable patients. This result indicates a strong initial efficacy profile with manageable safety concerns, as evidenced by low rates of grade 3 cytokine release syndrome.
Additionally, Xencor’s XmAb541 also showed encouraging preliminary efficacy, with three partial responses among nine patients. The deepening of response in one XmAb819 patient to 52% tumor shrinkage further underscores the potential of Xencor’s solid tumor TCE programs. These developments suggest significant value potential, supporting the Buy rating as Xencor continues to advance its clinical pipeline.