Canaccord Genuity analyst John Newman maintained a Buy rating on Xencor (XNCR – Research Report) yesterday and set a price target of $38.00.
John Newman has given his Buy rating due to a combination of factors that highlight Xencor’s potential in the biotechnology sector. The company’s XmAb942 has demonstrated a strong pharmacokinetic profile, with a notably long half-life that supports extended dosing intervals. This characteristic not only distinguishes it from competitors but also offers a more convenient dosing schedule for patients, which could lead to better adherence and outcomes.
Moreover, the safety profile of XmAb942 is favorable, showing minimal adverse events in clinical trials, which enhances its flexibility for use in both monotherapy and combination therapy. Xencor’s strategic focus on a differentiated Phase 2 trial design for Ulcerative Colitis further underscores its innovative approach. Additionally, the company’s robust pipeline of oncology and autoimmune assets, both proprietary and partnered, positions it well for long-term growth. These factors collectively justify the Buy rating and a price target of $38.
According to TipRanks, Newman is an analyst with an average return of -6.8% and a 31.20% success rate. Newman covers the Healthcare sector, focusing on stocks such as Regeneron, Candel Therapeutics, and Adicet Bio.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $30.00 price target.