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On Thursday, H.C. Wainwright analysts reaffirmed their Buy rating and $125.00 price target on Instil Bio Inc (NASDAQ:TIL) stock, which currently trades at $34.40 and has delivered an impressive 222.7% return over the past year. According to InvestingPro data, analysts maintain a strong bullish consensus on the stock, with price targets ranging from $51 to $180. The decision followed recent developments in the biopharmaceutical sector, including a strategic partnership between BioNTech (NASDAQ:BNTX) and Bristol-Myers Squibb (NYSE:BMY) for the co-development and commercialization of BNT327, a PD-L1 x VEGF bispecific.
Under the agreement, BioNTech is set to receive a $1.5 billion upfront payment, with potential additional payments amounting to $2 billion through 2028. The deal also includes up to $7.6 billion in development, regulatory, and commercialization milestones, along with a 50/50 cost and profit-sharing arrangement.
The analysts noted that the upfront payment reflects the developmental stage of BNT327 compared to ivonescimab. Instil Bio also has a PD-L1 x VEGF agent with competitive clinical data in China, while the company currently trades at an enterprise value of approximately $198 million. InvestingPro analysis shows the company maintains a GOOD financial health score, with liquid assets exceeding short-term obligations and a moderate debt level.
This partnership follows similar high-value deals in the industry, including Pfizer (NYSE:PFE)’s agreement with 3SBio for SSGJ-707 and Merck (NSE:PROR) & Co.’s licensing of LaNova Medicines’ LM-299. These transactions underscore the growing interest in PD-1/L1 x VEGF bispecifics, potentially positioning Instil Bio as an attractive acquisition target.
In light of these developments, H.C. Wainwright remains confident in Instil Bio’s prospects, maintaining their Buy rating and 12-month price target of $125.00. Discover more valuable insights and 13 additional ProTips for Instil Bio with InvestingPro, including detailed financial metrics and real-time analysis.
In other recent news, Instil Bio has seen several noteworthy developments. H.C. Wainwright analyst Mitchell Kapoor raised the price target for Instil Bio to $125, up from $105, while maintaining a Buy rating. This adjustment comes after the release of Phase 1/2 dose escalation data for AXN-2510, a treatment for non-small cell lung cancer. The trial showed a 23% overall response rate in patients with solid tumors, highlighting the treatment’s competitive edge. Meanwhile, JMP analysts maintained a Market Perform rating for Instil Bio, reflecting their valuation analysis after discussions at the ASCO Annual Meeting.
Additionally, Instil Bio appointed Jamie Freedman, M.D., Ph.D., as its new Chief Medical (TASE:BLWV) Officer, bringing extensive experience in oncology drug development. Freedman’s appointment is expected to advance the development of AXN-2510, a promising bispecific antibody for solid tumors. The company remains optimistic about the potential of AXN-2510, although it acknowledges the inherent risks in drug development. Furthermore, the competitive landscape for bispecific antibodies is evolving, with Pfizer’s recent investment in a similar treatment, emphasizing the clinical value of these therapies.
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