Morgan Stanley analyst Judah Frommer maintained a Buy rating on Zenas BioPharma, Inc. yesterday and set a price target of $31.00.
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Judah Frommer has given his Buy rating due to a combination of factors that highlight Zenas BioPharma’s potential for growth and success. The company’s clinical trials, particularly the Phase 3 INDIGO trial for IgG4-RD, are anticipated to be significant catalysts for the stock. The results of this trial, expected by the end of the year, are crucial as they could positively impact the competitive landscape against existing treatments like Amgen’s Uplizna.
Additionally, the upcoming Phase 2 MoonStone trial results in RMS, expected in early 4Q25, are also pivotal. Investors are particularly interested in the efficacy and safety of obexelimab compared to current CD20-targeting agents. These trials, along with the company’s solid cash position and strategic plans for partnerships, underpin Frommer’s optimistic outlook and Buy rating for Zenas BioPharma.