Canaccord Genuity analyst John Newman has maintained their bullish stance on XNCR stock, giving a Buy rating today.
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 .