Canaccord Genuity analyst John Newman has maintained their bullish stance on XNCR stock, giving a Buy rating yesterday.
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John Newman’s rating is based on Xencor’s promising advancements in their oncology and autoimmune treatments, which have shown early positive results. The company’s XmAb819 has demonstrated efficacy in treating relapsed/refractory clear cell renal cell carcinoma, even in heavily pre-treated patients, and the resolution of previous dose preparation issues further strengthens confidence in its development.
Additionally, Xencor’s pipeline includes XmAb541, which has shown a notable response rate in patients with germ cell tumors, indicating potential commercial opportunities. The ongoing progress in autoimmune trials, such as the studies involving plamotamab and XmAb942, also contributes to the positive outlook. With a robust cash position projected to last until 2028 and a diverse portfolio of assets, Xencor is well-positioned for future growth, justifying the Buy rating and a price target of $38.
In another report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $42.00 price target.