Inhibrx initiated with a Buy at Stifel

Stifel analyst Dara Azar initiated coverage of Inhibrx (INBX) with a Buy rating and $150 price target The company has advanced Ozekibart and INBRX-106 further in the clinic than any prior program for these targets, says the analyst, who thinks Ozekibart’s registrational chondrosarcoma success “provides compelling single-agent therapeutic index proof.” The firm also thinks INBRX-106 is “highly investable through targeting the narrow Keytruda-responder base to enhance this $32bn-drug’s cure-like efficacy,” the analyst added.