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H.C. Wainwright initiated coverage of Zenas BioPharma (ZBIO) with a Buy rating and $30 price target The company’s lead autoimmune therapy, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and Fc gamma receptor IIb, FcgammaRIIb, broadly present on B cell lineage, the analyst tells investors in a research note. The firm believes obexelimab represents an autoimmune franchise molecule with the potential for B cell therapeutic differentiation.

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Read More on ZBIO:

• Zenas BioPharma price target lowered to $35 from $40 at Morgan Stanley

• Zenas BioPharma reports Q3 EPS ($5.02), consensus ($9.33)

• Zenas BioPharma completed targeted enrollment of Phase 3 INDIGO trial

• Zenas BioPharma initiated with a Buy at Rodman & Renshaw