Canaccord Genuity analyst John Newman has maintained their bullish stance on XNCR stock, giving a Buy rating today.
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John Newman’s rating is based on Xencor’s promising pipeline and innovative technology platforms. The company is advancing its XmAb942 asset in the autoimmune space, targeting inflammatory bowel disease with a potentially best-in-class therapy. The use of Xencor’s Xtend platform technology and the targeting of TL1A provide a competitive edge, with expected positive data from initial studies.
Additionally, Xencor’s XmAb819 is showing potential in treating clear cell renal cell carcinoma. This first-in-class bispecific T-cell engager has demonstrated antitumor activity with favorable safety profiles. The ongoing development of a companion diagnostic to select patients with high ENPP3 expression further supports its potential. These factors, combined with a robust pipeline, underpin Newman’s Buy rating and a price target of $38.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $30.00 price target.
XNCR’s price has also changed moderately for the past six months – from $17.140 to $14.980, which is a -12.60% drop .