H.C. Wainwright Reiterates Buy Rating on Zenas Biopharma (ZBIO)

H.C. Wainwright analyst Matthew Caufield reiterated a Buy rating and $44.00 price target on Zenas Biopharma (NASDAQ: ZBIO).

The analyst commented: "The company announced positive results from its registrational Phase 3 INDIGO trial of bifunctional CD19 and FcγRIIb mAb candidate obexelimab, for the treatment of immunoglobulin G4-related disease (IgG4-RD). Notably, obexelimab met its primary endpoint, with clinically meaningful and highly statistically significant 56% reduction in risk of IgG4-RD flare compared to placebo (Hazard Ratio 0.44, p=0.0005) over the 52-week period. That said, we believe the results must be interpreted in the context of current therapy for IgG4-RD, which we further discuss below. Furthermore, obexelimab achieved highly statistically significant benefit versus placebo across the key secondary endpoints including: (i) reduction in investigator-assessed IgG4-RD flare; (ii) the number of flares requiring rescue therapy; (iii) proportion of patients achieving complete remission; and (iv) cumulative use of IgG4-RD rescue therapy. Importantly from a safety standpoint, infection rates including Grade 3 were lower for obexelimab compared to placebo, with injection site reactions similar across study arms. Based on the positive obexelimab trial and the advancing autoimmune pipeline, we reiterate our Buy rating, while anticipating further payer perspectives and regulatory feedback for obexelimab positioning."

For an analyst ratings summary and ratings history on Zenas Biopharma click here. For more ratings news on Zenas Biopharma click here.

Shares of Zenas Biopharma closed at $16.61 yesterday.

You May Also Be Interested In

• Morgan Stanley Starts Sampo Oyj (SAMPO:FH) (SAXPY) at Equalweight
• Jefferies Downgrades Zealand Pharma A/S (ZEAL:DC) (ZEAL) to Hold
• JPMorgan Starts Hyundai Department Store (069960:KS) at Overweight