Analyst Judah Frommer of Morgan Stanley maintained a Buy rating on Zenas BioPharma, Inc., boosting the price target to $37.00.
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Judah Frommer has given his Buy rating due to a combination of factors that highlight Zenas BioPharma, Inc.’s promising outlook. The company recently reported positive results from its Phase 2 MoonStone study of obexelimab in RMS, demonstrating efficacy comparable to B cell depletion therapies. This success, along with the strategic in-licensing of a BTK inhibitor, orelabrutinib, which is in Phase 3 for PPMS, has been positively received by investors.
Looking forward, the anticipated Phase 3 INDIGO results in IgG4-RD by the end of 2025 present a potential catalyst for further stock appreciation, especially if the data proves competitive with existing treatments like Uplizna. The company’s financial position is also strong, with sufficient cash to fund operations into the fourth quarter of 2026, even before considering potential milestone payments. These factors collectively contribute to a favorable outlook for Zenas BioPharma, supporting the Buy rating.
In another report released today, Citi also assigned a Buy rating to the stock with a $46.00 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.