H.C. Wainwright lowered the firm’s price target on Pyxis Oncology (PYXS) to $5 from $7 and keeps a Buy rating on the shares. Pyxis announced its decision to de-prioritize development of anti-Siglec-15 antibody PYX-106 to focus on PYX-201, its lead antibody-drug conjugate targeting Extra Domain B Splice Variant of Fibronectin, the analyst tells investors in a research note. The firm is not surprised by the decision since the potential of Siglec-15 is “questionable” given the lack of efficacy NC318, another Siglec-15-targeting antibody that has been discontinued, and thinks it’s prudent to de-prioritize PYX-106, which could help Pyxis better manage its operational expenses and focus on PYX-201 development.
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Read More on PYXS:
- Pyxis Oncology price target lowered to $8 from $10 at RBC Capital
- Pyxis Oncology to prioritize PYX-201, suspends investment in PYX-106
- RBC ups Pyxis Oncology target, says buy shares on selloff
- Pyxis Oncology reported ‘compelling’ cancer dataset, says H.C. Wainwright
- Pyxis Oncology downgraded to Market Perform from Outperform at William Blair
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
