Index falls as earnings results weigh; pound above $1.33, Bodycote soars
On Monday, JMP analysts maintained a Market Perform rating on Instil Bio Inc (NASDAQ:TIL), following discussions at the 2025 ASCO Annual Meeting. The stock has shown remarkable momentum, gaining 28% in the past week and 41% year-to-date. Analysts from the firm reiterated their stance based on a valuation analysis that considers both cash per share and the platform’s value. According to InvestingPro data, the average analyst price target suggests significant upside potential from current levels.
During the meeting, Instil Bio featured presentations by Dr. Ciao and Dr. Ford, who examined the current PD-(L)1xVEGF bsAb treatment landscape. Dr. Ciao’s talk highlighted the differences in treatment approaches between the U.S. and China, while Dr. Ford suggested that the efficacy and safety of this class of treatments are likely to be similar across the board, with potential variations observable among different tumor types.
A key point of interest was Dr. Ford’s take on the recent data released by Summit last Friday. He described the progression-free survival (PFS) results as a "resounding success" and pointed out that an overall survival hazard ratio (OS HR) of less than 0.8 holds clinical significance.
Furthermore, Dr. Wei Chen, CEO of ImmuneOnco, provided an update on the ongoing 1L NSCLC chemotherapy combination trial in China. Dr. Chen indicated that enrollment is progressing well and projected that it might be completed by the June/July 2025 period.
The analysts’ reiteration of the Market Perform rating reflects their assessment of Instil Bio’s current market position and the potential implications of recent data and expert insights shared at the ASCO meeting. Based on InvestingPro’s Fair Value analysis, the stock appears fairly valued at current levels. Unlock 8 additional ProTips and comprehensive financial metrics with an InvestingPro subscription.
In other recent news, Instil Bio has been the focus of analysts following significant developments in its clinical trials and the broader bispecific antibodies market. H.C. Wainwright analyst Mitchell Kapoor raised the price target for Instil Bio to $125, up from $105, maintaining a Buy rating. This adjustment comes after the release of Phase 1/2 data for AXN-2510, a treatment for non-small cell lung cancer, showing a 23% overall response rate among patients. Kapoor highlighted the competitive nature of AXN-2510 compared to similar treatments, noting its potential in the treatment landscape.
In contrast, H.C. Wainwright had previously set a price target of $105, reflecting changes in the industry, including Pfizer (NYSE:PFE)’s significant investment in bispecific antibody treatments. Pfizer’s agreement to acquire rights to 3SBio’s candidate SSGJ-707 for up to $6.05 billion underscores the growing interest and value in this therapeutic area. These transactions, along with others in the market, demonstrate the clinical importance of PD-1/L1 x VEGF bispecifics. H.C. Wainwright’s analysts believe these deals validate the impact of such treatments, influencing their revised price target for Instil Bio.
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