Pyxis Oncology Inc. (PYXS) PT Lowered to $7 at Leerink

Leerink analyst Jeffrey La Rosa lowered the price target on Pyxis Oncology Inc. (NASDAQ: PYXS) to $7.00 (from $9.00) while maintaining a Outperform rating.

The analyst comments "Bottom Line: We reiterate our positive view of Pyxis (PYXS, OP) and their lead EDB-FN-targeted ADC, micvotabart pelidotin (micvo), supported by the decision of several prominent investors to provide private financing ahead of a more fulsome Ph 1 dose expansion update in the fall. We maintain our constructive view that micvo offers a differentiated value proposition as a broadly acting agent in 2L+ SCCHN with therapeutic utility across pertinent patient segments (e.g., HPV + or HPV-unrelated, post-PD-1/platinum or EGFR bispecifics). Though the bar is certainly higher, we also see potential for a strong profile in 1L SCCHN, with micvo in combination with pembro, exceeding investor expectations, especially in HPV + disease where we see much stronger biologic rationale for auristatin-based ADCs than for EGFR-targeted therapies."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)
• Boeing lands two U.S. defense contracts worth over $711M