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Investing.com - Guggenheim raised its price target on Pyxis Oncology Inc. (NASDAQ:PYXS) to $7.00 from $5.00 on Tuesday, while maintaining a Buy rating on the stock. The biotech company, currently trading at $3.81 with a market cap of $236.29 million, has shown impressive momentum with a 202.38% price return over the last six months.
The upgrade follows Pyxis Oncology’s announcement that its upcoming fourth-quarter 2025 MICVO phase 1 data update will be more comprehensive than previously indicated, addressing key investor questions about its competitive positioning in head and neck squamous cell carcinoma (HNSCC).
The expanded data will now include monotherapy objective response rate (ORR) and safety information from both the 2/3L HNSCC post-EGFR and PD-1 cohort, as well as the 1/2L HNSCC pembrolizumab combination cohort, according to the company’s earnings press release.
Pyxis management emphasized that their MICVO strategy accounts for next-generation EGFR therapies and will provide evidence about the drug’s ability to compete with, combine with, or target EGFR, according to Guggenheim’s report following investor meetings with the company.
Analyst consensus is strongly bullish on Pyxis, with price targets ranging from $5 to $8, according to InvestingPro data. The company reported cash holdings of $77.7 million, which management indicates provides runway into the second half of 2026, as Guggenheim increased its probability of success for MICVO in 2/3L HNSCC by 5 percentage points based on the expanded data disclosure plan. InvestingPro analysis shows the company holds more cash than debt and maintains a healthy current ratio of 5.65, though it is currently trading above its Fair Value estimate.
In other recent news, Pyxis Oncology has announced the appointment of Alex Kane as Senior Vice President of Investor Relations & Capital Markets. Kane brings two decades of experience in investor relations and equity capital markets, having previously worked at Guggenheim Securities. Additionally, Guggenheim has initiated coverage on Pyxis Oncology’s stock with a Buy rating and a $5.00 price target. This coverage focuses on Pyxis’s MICVO, their first-in-concept non-internalizing ADC, which has shown initial activity signals in early trials. Pyxis Oncology also updated its patient enrollment for the Phase 1 clinical trial of micvotabart pelidotin, with revisions posted on ClinicalTrials.gov. The trial is aimed at evaluating the safety and efficacy of MICVO in advanced solid tumors. The company has maintained its previous guidance regarding the number of patients in the dose expansion phase. These developments reflect Pyxis Oncology’s ongoing efforts in advancing their clinical programs.
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