Inhibrx Biosciences (INBX) PT Raised to $300 at Stifel

Stifel analyst Dara Azar raised the price target on Inhibrx Biosciences (NASDAQ: INBX) to $300.00 (from $150.00) while maintaining a Buy rating.

The analyst commented, "We are reiterating our BUY rating ahead of INBRX-106 (OX40) randomized data against the $32bn Keytruda in 1L HNSCC as the PoC indication for several opportunities beyond that could create a 'Blue Sky' upside. We are also increasing our TP to $300, to reflect the incremental derisking for Ozekibart (DR5) provided last night. Given anecdotes of Ozekibart activity in RAS/ RAF mutant CRC tumors, we are revisiting our prior $5bn+ peak sales assumption and taking incremental steps to view the wholly-owned category-scarce Ozekibart as a $10bn+ franchise ultimately."

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