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Xencor Stock Gains 23% on Encouraging Pipeline Advancements
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Shares of Xencor (XNCR - Free Report) gained 23% on Monday after it revealed details on four new programs targeting autoimmune diseases and provided encouraging initial updates on two early-stage oncology programs.
Xencor Shares Favorable Updates on Oncology Pipeline
The company announced favorable initial results from two early-stage oncology programs.
Initial data from an ongoing phase I study showed signs of anti-tumor activity for its investigational ENPP3 x CD3 bispecific antibody XmAb819 in patients with clear cell renal cell carcinoma. Management expects to reach target dose levels by this year’s end and provide a clinical update in first-half 2025.
Xencor also expects to reach target dose levels in the ongoing early-stage study on XmAb808 in metastatic castration-resistant prostate cancer by 2024-end and provide a clinical update in first-half 2025.
Year to date, Xencor’s shares have lost 6.3% compared with the industry’s 0.7% decline.
Image Source: Zacks Investment Research
Details on Xencor’s New Autoimmune Programs
XNCR intends to start a phase Ib/IIa study on plamotamab, a CD20 x CD3 bispecific T-cell engager, for multi-drug-resistant rheumatoid arthritis (MDR-RA) in first-half 2025. This advancement is based on positive data from a phase I study that evaluated the drug in hematologic cancers.
The company regained the rights to plamotamab after pharma-giant Johnson & Johnson (JNJ - Free Report) terminated its right to the drug as part of an ongoing collaboration agreement entered in 2021. Management is developing two drugs, JNJ-9401 and JNJ-1493, as part of its collaboration with J&J in separate early-stage studies for prostate cancer and B-cell tumors, respectively.
Management intends to dose the first patient with its novel anti-TL1A antibody XmAb942 in a phase I study for treating inflammatory bowel diseases (IBD) in fourth-quarter 2024. Interim data from this study is expected in the early next year.
Xencor is also preparing to advance XmAb657, a CD19 x CD3 bispecific antibody, to an early-stage study for autoimmune diseases in second-half 2025. The company also intends to move an XmAb bispecific antibody targeting TL1A and IL-23 pathways for IBD in 2026.
Our Take
While Xencor’s decision to advance four new candidates in the autoimmune disease space seems enthusiastic, we advise investors to exercise caution when making investment decisions based on this factor only. These candidates are still in early-stage development and carry significantly high risks of potential failure. The stock’s near-term prospects are tied to its oncology pipeline, which is expected to report data early next year.
In the past 60 days, estimates for Bioventus’ 2024 earnings per share (EPS) have risen from 27 cents to 40 cents. Estimates for 2025 EPS have increased from 43 cents to 45 cents during the same period. Year to date, shares of Bioventus have surged 99.2%.
BVS’ earnings beat estimates in three of the last four quarters and missed the mark on one occasion. Bioventus delivered a four-quarter average earnings surprise of 102.86%.
In the past 60 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have improved from $1.24 to 48 cents. Estimates for 2025 loss per share have improved from $1.71 to $1.51 during the same period. Year to date, Fulcrum Therapeutics’ shares have rallied 27.9%.
Earnings of Fulcrum Therapeutics beat estimates in each of the last four quarters. Fulcrum Therapeutics delivered a four-quarter average earnings surprise of 393.18%.
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Xencor Stock Gains 23% on Encouraging Pipeline Advancements
Shares of Xencor (XNCR - Free Report) gained 23% on Monday after it revealed details on four new programs targeting autoimmune diseases and provided encouraging initial updates on two early-stage oncology programs.
Xencor Shares Favorable Updates on Oncology Pipeline
The company announced favorable initial results from two early-stage oncology programs.
Initial data from an ongoing phase I study showed signs of anti-tumor activity for its investigational ENPP3 x CD3 bispecific antibody XmAb819 in patients with clear cell renal cell carcinoma. Management expects to reach target dose levels by this year’s end and provide a clinical update in first-half 2025.
Xencor also expects to reach target dose levels in the ongoing early-stage study on XmAb808 in metastatic castration-resistant prostate cancer by 2024-end and provide a clinical update in first-half 2025.
Year to date, Xencor’s shares have lost 6.3% compared with the industry’s 0.7% decline.
Image Source: Zacks Investment Research
Details on Xencor’s New Autoimmune Programs
XNCR intends to start a phase Ib/IIa study on plamotamab, a CD20 x CD3 bispecific T-cell engager, for multi-drug-resistant rheumatoid arthritis (MDR-RA) in first-half 2025. This advancement is based on positive data from a phase I study that evaluated the drug in hematologic cancers.
The company regained the rights to plamotamab after pharma-giant Johnson & Johnson (JNJ - Free Report) terminated its right to the drug as part of an ongoing collaboration agreement entered in 2021. Management is developing two drugs, JNJ-9401 and JNJ-1493, as part of its collaboration with J&J in separate early-stage studies for prostate cancer and B-cell tumors, respectively.
Management intends to dose the first patient with its novel anti-TL1A antibody XmAb942 in a phase I study for treating inflammatory bowel diseases (IBD) in fourth-quarter 2024. Interim data from this study is expected in the early next year.
Xencor is also preparing to advance XmAb657, a CD19 x CD3 bispecific antibody, to an early-stage study for autoimmune diseases in second-half 2025. The company also intends to move an XmAb bispecific antibody targeting TL1A and IL-23 pathways for IBD in 2026.
Our Take
While Xencor’s decision to advance four new candidates in the autoimmune disease space seems enthusiastic, we advise investors to exercise caution when making investment decisions based on this factor only. These candidates are still in early-stage development and carry significantly high risks of potential failure. The stock’s near-term prospects are tied to its oncology pipeline, which is expected to report data early next year.
XNCR’s Zacks Rank
Xencor currently carries a Zacks Rank #3 (Hold).
Xencor, Inc. Price
Xencor, Inc. price | Xencor, Inc. Quote
Our Key Picks Among Biotech Stocks
Some better-ranked stocks in the overall healthcare sector are Bioventus (BVS - Free Report) and Fulcrum Therapeutics (FULC - Free Report) . Each stock presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Bioventus’ 2024 earnings per share (EPS) have risen from 27 cents to 40 cents. Estimates for 2025 EPS have increased from 43 cents to 45 cents during the same period. Year to date, shares of Bioventus have surged 99.2%.
BVS’ earnings beat estimates in three of the last four quarters and missed the mark on one occasion. Bioventus delivered a four-quarter average earnings surprise of 102.86%.
In the past 60 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have improved from $1.24 to 48 cents. Estimates for 2025 loss per share have improved from $1.71 to $1.51 during the same period. Year to date, Fulcrum Therapeutics’ shares have rallied 27.9%.
Earnings of Fulcrum Therapeutics beat estimates in each of the last four quarters. Fulcrum Therapeutics delivered a four-quarter average earnings surprise of 393.18%.