Zenas BioPharma: Advancing Autoimmune Pipeline and Obexelimab’s Differentiated MS Profile Support Buy Rating and $44 Target

H.C. Wainwright analyst Matthew Caufield has reiterated their bullish stance on ZBIO stock, giving a Buy rating on January 30.

Matthew Caufield has given his Buy rating due to a combination of factors tied to Zenas BioPharma’s advancing autoimmune portfolio and strong clinical data. He points to obexelimab’s robust Phase 2 multiple sclerosis results, which showed a pronounced and durable reduction in MRI lesion activity and neurofilament light levels, reinforcing its differentiated B‑cell–modulating profile and supporting its broader potential beyond relapsing MS.

He also emphasizes the company’s upcoming catalysts, including the planned IgG4‑related disease BLA filing, pivotal SunStone SLE data, and progression of orelabrutinib into late‑stage trials for progressive MS, all in indications with significant unmet need. In his view, physician survey data indicating high willingness to prescribe obexelimab, combined with favorable safety, convenience of weekly self‑administration, and a clear path toward first‑line use in IgG4‑RD, underpins meaningful commercial upside that supports maintaining a Buy rating and a $44 target price.

In another report released on January 30, Citi also assigned a Buy rating to the stock with a $43.00 price target.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZBIO in relation to earlier this year.