Xencor price target lowered to $38 from $56 at BTIG

BTIG lowered the firm’s price target on Xencor to $38 from $56 and keeps a Buy rating on the shares following the firm’s key opinion leader call discussing the mCRPC development landscape. The comments were not exclusive to Xencor, but Dr. Petrylak shared that due to the historically lackluster data from naked checkpoint inhibitors in prostate cancer, he would like to see more data before getting too excited about CTLA4-targeting programs, the analyst tells investors in a research note. Vudalimab could become a viable monotherapy drug for a specific subtype(s) of mCRPC, but additional data will be required to make go/no-go decisions for pivotal trials, the firm added.