William Blair analyst Matt Phipps has maintained their bullish stance on XNCR stock, giving a Buy rating yesterday.
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Matt Phipps has given his Buy rating due to a combination of factors surrounding Xencor’s promising pipeline and recent strategic developments. The company has initiated the Phase IIb XENITH-UC study for its TL1A antibody XmAb942 in ulcerative colitis, following encouraging Phase I results that demonstrated high potency and a favorable dosing profile. This positions XmAb942 as potentially differentiated in the TL1A development landscape.
Additionally, Xencor’s recent regulatory progress, including the authorization for a Phase I/II study with plamotamab in rheumatoid arthritis, and a $25 million milestone payment from Incyte for Monjuvi’s regulatory advancement, further strengthen its financial and strategic position. The appointment of Dr. Raymond Deshaies, a seasoned biotechnology expert, to Xencor’s board also adds significant industry expertise, enhancing the company’s leadership team. These factors collectively support the Buy rating for Xencor’s stock.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $0.00 price target.
XNCR’s price has also changed dramatically for the past six months – from $17.250 to $7.490, which is a -56.58% drop .