Zenas BioPharma rises after Wedbush raises price target

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Shares of Zenas BioPharma (NASDAQ:ZBIO [https://seekingalpha.com/symbol/ZBIO]) rose on Thursday after Wedbush raised its price target, pointing to the company’s expanding late-stage pipeline and successful asset in-licensing strategy.

The price target for the company was raised to $40 from $35.

On Wednesday, the company in-licensed multiple assets from InnoCare Pharma, including orelabrutinib, a BTK inhibitor currently in phase 3 development for progressive forms of multiple sclerosis.

Wedbush analysts said that the addition of these assets strengthen Zenas’s growth outlook and adds meaningful diversification to its portfolio.

Wedbush also highlighted near-term clinical catalysts that could further enhance ZBIO’s valuation, including the anticipated Phase 3 INDIGO trial results for obexelimab in IgG4-related disease by year-end 2025 and Phase 2 MoonStone trial results in MS expected in early fourth-quarter 2025.

Wedbus reiterated Outperform rating. The shares of the company are up about 3% today.

MORE ON ZENAS BIOPHARMA, INC.

* Zenas BioPharma: Two Late-Stage Catalysts And A $2B InnoCare Deal [https://seekingalpha.com/article/4828786-zenas-biopharma-two-late-stage-catalysts-and-a-2b-innocare-deal]
* Zenas Biopharma: A Risky Buy On Upcoming Data Readouts In IgG4, MS [https://seekingalpha.com/article/4805174-zenas-biopharma-risky-buy-on-upcoming-data-readouts-in-igg4-ms]
* Zenas climbs on licensing deal with InnoCare [https://seekingalpha.com/news/4502631-zenas-climbs-licensing-deal-innocare]
* Zenas BioPharma and Royalty Pharma enter into Obexelimab funding agreement for $300M [https://seekingalpha.com/news/4491046-zenas-biopharma-and-royalty-pharma-enter-into-obexelimab-funding-agreement-for-300m]
* Seeking Alpha’s Quant Rating on Zenas BioPharma, Inc. [https://seekingalpha.com/symbol/ZBIO/ratings/quant-ratings]