Jefferies analyst Farzin Haque assumed coverage of Pyxis Oncology with a Buy rating and $10 price target. The firm sees Pyxis’ antibody-drug conjugate, or ADC, platform having significant growth potential and notes that its lead ADC, ‘201, targets tumor stroma, which the firm calls “a strategy that could be more efficacious in high stroma burden tumors.” The stock is up 47% in the last 12 months on general confidence in ADCs and the firm expects continued momentum ahead with initial ‘201 data in Fall of 2024, the analyst added.
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