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Investing.com - Oppenheimer lowered its price target on Zura Bio Ltd. (NASDAQ:ZURA) to $16.00 from $17.00 on Thursday, while maintaining an Outperform rating on the stock. The new target remains significantly above the current trading price of $1.72, with InvestingPro analysis suggesting the stock is currently undervalued.
The revision follows Zura Bio’s second-quarter financial results and updates on ongoing clinical studies of tibulizumab, including the global Phase 2 TibuSHIELD study in hidradenitis suppurativa (HS) that launched in May.
Zura Bio reported second-quarter ending cash of $154.5 million, which the company expects will support operations through 2027 and cover readouts from both ongoing studies of tibulizumab in HS and systemic sclerosis (SSc).
Oppenheimer’s price target adjustment reflects updated financial models based on the reported quarterly actuals, resulting in a $1 reduction from the previous target.
The research firm maintained its Outperform rating on Zura Bio stock despite the price target reduction.
In other recent news, Zura Bio Ltd. reported its second-quarter 2025 earnings, with Leerink Partners maintaining an Outperform rating on the company and setting a price target of $11.00. The firm highlighted ongoing Phase 2 studies for Zura Bio’s lead asset, tibulizumab, which are progressing as planned. Meanwhile, H.C. Wainwright reiterated a Neutral rating and a $3.00 price target, citing concerns following Novartis’ decision not to advance a similar BAFF inhibitor. Zura Bio also announced a leadership change, with Eric Hyllengren set to become the new Chief Financial Officer, bringing extensive experience from Atara Biotherapeutics. Additionally, shareholders approved all board nominees and the appointment of WithumSmith+Brown, PC as the auditor for the fiscal year ending December 31, 2025. The company has also initiated a global Phase 2 clinical trial, named TibuSHIELD, to evaluate tibulizumab for treating hidradenitis suppurativa. This trial will involve around 180 participants and is expected to provide initial results in the third quarter of 2026. These developments reflect Zura Bio’s ongoing efforts in clinical research and corporate governance.
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