Inhibrx price target raised to $300 from $150 at Stifel

Stifel analyst Dara Azar raised the firm’s price target on Inhibrx (INBX) to $300 from $150 and keeps a Buy rating on the shares. Ahead of key trial data for INBRX-106 against Keytruda in first-line head and neck cancer, expectations are rising for broader “blue sky” upside across multiple indications, the analyst tells investors in a research note. At the same time, improved confidence in Ozekibart is driving a higher price target and boosting peak sales estimates to over $10B supported by encouraging activity signals in certain colorectal cancers, the firm says.