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Investing.com - Morgan Stanley (NYSE:MS) has assumed coverage on Zenas Biopharma (NASDAQ:ZBIO) with an Overweight rating and a price target of $31.00. The target represents significant upside potential, with analyst targets ranging from $18 to $45. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis.
The research firm highlighted that Zenas Biopharma’s obexelimab inhibits B cells rather than depleting them, which could provide a potential advantage in autoimmune therapy treatments.
Morgan Stanley noted several upcoming catalysts for the biotech company, including Phase III INDIGO trial results for IgG4-RD expected by the end of 2025.
Additional data from the Phase II MoonStone trial in RMS is anticipated in early fourth quarter 2025, according to the coverage note.
The firm also mentioned that Phase II SunStone results in SLE, expected in mid-2026, could further validate the efficacy of obexelimab as a treatment option.
In other recent news, Zenas BioPharma announced the appointment of Haley Laken, Ph.D., as its new Chief Scientific Officer. Dr. Laken brings over two decades of experience in the biopharmaceutical industry, having held significant roles in translational research and drug development. Before joining Zenas, she served as the Chief Operating Officer at Tabby Therapeutics and held leadership positions at Jounce Therapeutics (NASDAQ:JNCE), TESARO, Rhythm Pharmaceuticals (NASDAQ:RYTM), Pfizer (NYSE:PFE), and Wyeth. Her primary focus at Zenas will be advancing the company’s lead product candidate, obexelimab, through Phase 2 and Phase 3 clinical trials. Obexelimab is being developed to treat autoimmune diseases such as IgG4-related disease, multiple sclerosis, and systemic lupus erythematosus. The company believes that obexelimab’s unique mechanism of action, which targets B cell lineage without depleting these cells, could provide clinical benefits to patients. Lisa von Moltke, Head of R&D and Chief Medical (TASE:BLWV) Officer at Zenas, expressed confidence in Dr. Laken’s expertise to enhance the company’s pipeline and development strategies. Dr. Laken also expressed enthusiasm for contributing to the progression of obexelimab at this pivotal time for Zenas. The company’s press release contains forward-looking statements regarding the potential benefits of obexelimab and pipeline expansion, though these are subject to risks and uncertainties.
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