Xencor (XNCR) has received a new Buy rating, initiated by TD Cowen analyst, Tara Bancroft.
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Tara Bancroft’s rating is based on Xencor’s significant advancements in its early-stage pipeline, particularly with its TL1A portfolio. The promising results from XmAb942’s Phase I trials, showcasing its unmatched potency and quarterly dosing regimen, set it apart from current competitors. This differentiation is expected to enhance patient convenience and adherence, which is crucial in the competitive landscape.
Furthermore, the anticipated launch of the Phase IIb XENITH-UC study in the latter half of 2025, enrolling a substantial number of patients, signals potential for improved clinical outcomes. The company’s strategic focus on achieving higher consistency in drug exposure is expected to yield competitive efficacy results. These factors collectively underpin Tara Bancroft’s confidence in Xencor’s future prospects, justifying the Buy rating.
In another report released on April 30, Piper Sandler also reiterated a Buy rating on the stock with a $30.00 price target.