Wedbush bullish on Pyxis Oncology, initiates with an Outperform

As previously reported, Wedbush analyst Robert Driscoll initiated coverage of Pyxis Oncology (PYXS) with an Outperform rating and $6 price target The firm notes that the company’s lead program micvotabart pelidotin uniquely targets a novel extracellular matrix antigen over expressed in many solid tumors, and negligibly expressed in normal tissue. Wedbush views dose escalation and early expansion data in r/m head and neck squamous cell carcinoma as promising in light of an evolving treatment landscape, and looks forward to updated data from two expansion cohorts in mid-2026. The firm sees a compelling risk/reward ahead of data readouts in the next 6 months, acknowledging near term financing risk.