Pyxis Oncology initiated with a Buy at BTIG

BTIG analyst Kaveri Pohlman initiated coverage of Pyxis Oncology with a Buy rating and $8 price target. Pyxis is a pure-play antibody-drug conjugates company and has a proprietary technology platform that essentially represents over a decade of ADC innovation at Pfizer, the analyst tells investors in a research note. The firm believes the current market price, which is in line with Pyxis’ current cash position of $3 per share, “provides a compelling entry point ahead of important catalysts.”