Barclays analyst Etzer Darout double upgraded Xencor (XNCR) to Overweight from Underweight with a price target of $23, up from $6. The firm has a more positive outlook on the company’s pipeline following updates at the AACR-NCI-EORTC Conference. XNCR’s recent updates for XmAb819, a first-in-class ENPP3 x CD3 bispecific T-cell engager in development for advanced clear cell renal cell carcinoma, and XmAb541 in CLDN6+ tumors were positive and exceeded expectations, the analyst tells investors in a research note. Barclays now values these programs at $6 per share.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XNCR:
- Xencor Inc.’s XmAb541: A Promising Phase 1 Study in Advanced Solid Tumors
- Xencor’s XmAb819 Study: A Promising Step in Cancer Treatment
- Xencor’s Promising NSCLC Study: A Potential Game-Changer?
- Xencor’s XmAb942 Study: A New Hope for Ulcerative Colitis?
- Xencor price target raised to $15 from $14 at BofA