William Blair analyst Matt Phipps has reiterated their bullish stance on XNCR stock, giving a Buy rating today.
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Matt Phipps has given his Buy rating due to a combination of factors that highlight Xencor’s promising developments in the field of autoimmune diseases and oncology. The company’s recent clinical updates, particularly those related to B-cell depletion therapies, have shown significant potential in treating autoimmune conditions. These updates, presented at EULAR, suggest that Xencor’s T-cell engagers could be utilized across a broad range of indications, which is a positive indicator for the company’s future growth.
Additionally, Xencor’s TL1A program and ongoing trials involving XmAb819 and XmAb541 have demonstrated encouraging results. The management’s positive outlook on the depth and durability of B-cell depletion, especially in rheumatoid arthritis and systemic lupus erythematosus patients, further supports the potential of their therapies. These factors, combined with external data supporting the targeting of tumor-restricted antigens, provide a strong foundation for the Buy rating, indicating significant upside potential for Xencor’s stock.
Phipps covers the Healthcare sector, focusing on stocks such as Cullinan Management, Genmab, and Bristol-Myers Squibb. According to TipRanks, Phipps has an average return of -9.6% and a 34.83% success rate on recommended stocks.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $25.00 price target.