Leerink Partners analyst Jonathan Chang maintained a Buy rating on Xencor (XNCR – Research Report) on February 27 and set a price target of $27.00.
Jonathan Chang has given his Buy rating due to a combination of factors, primarily focusing on Xencor’s promising pipeline in oncology and immunology. The company has shown significant progress in its lead bispecific program, XmAb819, with initial Phase I data in clear cell renal cell carcinoma expected in the second half of 2025. This program, along with other ongoing studies like XmAb541 in ovarian cancer, highlights Xencor’s robust research and development efforts.
Additionally, Xencor’s strategic decisions, such as deprioritizing certain projects and exploring partnerships for others, demonstrate a focused approach to pipeline management. The financial health of the company, with a strong cash position extending its runway into 2028, further supports its ability to execute its long-term strategy. These elements combined suggest that Xencor is well-positioned to deliver on its objectives, making it an attractive investment opportunity.
According to TipRanks, Chang is an analyst with an average return of -10.0% and a 31.27% success rate. Chang covers the Healthcare sector, focusing on stocks such as Kura Oncology, Replimune Group, and Bicycle Therapeutics.
In another report released on February 28, J.P. Morgan also maintained a Buy rating on the stock with a $23.00 price target.