Pyxis Oncology’s Strategic Shift: A Prudent Move?
RBC Capital analyst Leonid Timashev has revised his outlook on Pyxis Oncology (PYXS), slashing the price target from $10 to $8 while maintaining an Outperform rating. This move comes on the heels of the company’s decision to prioritize PYX-201 over further investment in PYX-106.
A Shift in Focus
According to Timashev, this strategic shift is a prudent one, driven by early signs of activity and the potential for significant operating expense savings. By channeling resources into PYX-201, Pyxis Oncology can accelerate its development and maximize its potential.
The Impact on Pipeline Optionality
However, this shift in focus comes at a cost. The reduced investment in PYX-106 has led to lower pipeline optionality, prompting Timashev to reduce his price target. Despite this, the analyst remains optimistic about Pyxis Oncology’s prospects, citing the potential for PYX-201 to drive growth.
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