Xencor’s Promising Pipeline and Strategic Collaborations Justify Buy Rating

William Blair analyst Matt Phipps has maintained their bullish stance on XNCR stock, giving a Buy rating today.

Matt Phipps has given his Buy rating due to a combination of factors including Xencor’s promising developments in their immunology and oncology pipelines. The initial Phase I data for XmAb942, a TL1A antibody, indicates a strong potential with its high potency, long half-life, and convenient subcutaneous formulation, which could offer a differentiated profile compared to competitors in the TL1A development landscape. Additionally, Xencor’s plans to initiate a Phase IIb study in ulcerative colitis further supports the potential of XmAb942.
Moreover, Xencor’s receipt of milestone payments from Incyte and Vir Biotechnology highlights the company’s ongoing progress and collaboration in the field. The regulatory progress with Monjuvi and the development of plamotamab in rheumatoid arthritis are notable achievements that contribute to the positive outlook. These factors combined suggest a strong growth trajectory for Xencor, justifying the Buy rating.