H.C. Wainwright analyst Matthew Caufield has reiterated their bullish stance on ZBIO stock, giving a Buy rating today.
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Matthew Caufield has given his Buy rating due to a combination of factors related to Zenas BioPharma’s advancements in their autoimmune platform. The company is making significant progress with its obexelimab candidate, particularly in the Phase 3 INDIGO trial for IgG4-related disease (IgG4-RD), where it is expected to demonstrate a consistent profile for the primary endpoint by the end of 2025. The potential of obexelimab is highlighted by its unique mechanism of action, which involves dual engagement of CD19 and FcγRIIb, offering reversible broad B cell inhibition rather than traditional depletion, which could be preferred for IgG4-RD treatment.
Additionally, the positive results from the Phase 2 MoonStone trial in relapsing multiple sclerosis (RMS) further support the Buy rating. The trial showed a significant reduction in new gadolinium-enhancing T1 lesions, indicating effective suppression of active disease inflammation. Furthermore, the incorporation of orelabrutinib, a BTK inhibitor, into the company’s pipeline for progressive multiple sclerosis (MS) adds another promising dimension to their strategy. With these developments, Caufield maintains confidence in Zenas BioPharma’s potential, reiterating a Buy rating and setting a price target of $44.
In another report released today, Citi also assigned a Buy rating to the stock with a $46.00 price target.