Wells Fargo analyst Eva Fortea Verdejo has maintained their bullish stance on XNCR stock, giving a Buy rating yesterday.
Eva Fortea Verdejo has given her Buy rating due to a combination of factors that highlight Xencor’s strategic focus and potential for growth. The decision to remove vudalimab from the pipeline allows the company to concentrate on more promising programs, such as XmAb819 and XmAb942, which are expected to yield significant data in 2025. This strategic shift is seen as a positive move, as it aligns resources with higher-value projects that could drive future success.
Furthermore, the anticipated data readouts for XmAb819 and XmAb942 are key catalysts that could enhance investor confidence and potentially uplift the stock’s performance. Despite the current decline in stock value, the focus on these promising programs and the attractive entry point at the current valuation provide a compelling case for investment. The projected price target of $33 reflects the potential upside as these developments unfold in the coming months.
Fortea Verdejo covers the Healthcare sector, focusing on stocks such as Xencor, Kiniksa Pharmaceuticals, and Merus. According to TipRanks, Fortea Verdejo has an average return of -18.9% and a 15.38% success rate on recommended stocks.