Zenas BioPharma, Inc., the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Matthew Caufield from H.C. Wainwright reiterated a Buy rating on the stock and has a $30.00 price target.
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Matthew Caufield has given his Buy rating due to a combination of factors including the strategic expansion of Zenas BioPharma’s pipeline through a license agreement with InnoCare Pharma. This agreement introduces Orelabrutinib, a CNS-penetrant BTK inhibitor, into Phase 3 development for primary and secondary progressive multiple sclerosis, addressing a significant unmet need in preventing disease progression independent of relapse activity. The inclusion of preclinical assets like ZB021 and ZB022 further enhances the company’s potential for growth, with IND filings and Phase 1 initiations expected in 2026.
Additionally, the company’s financial position is strengthened by a $120 million private placement financing, positioning it well for upcoming topline results for Obexelimab in IgG4-RD and RMS programs. The differentiation of Obexelimab, particularly in its administration and safety profile compared to existing treatments like Amgen’s Uplizna, adds to its commercial potential. These strategic developments and financial backing underpin Caufield’s optimistic outlook and the reiterated Buy rating with a $30 price target.
In another report released on September 30, Morgan Stanley also maintained a Buy rating on the stock with a $31.00 price target.