UPDATE: MLV & Co Reiterates Buy Rating, Raises PT on Xencor on Attractive Investment Opportunity

In a report published Wednesday, MLV & Co analyst Arlinda Lee reiterated a Buy rating on

, and raised the price target from $18.00 to $22.00. In the report, MLV & Co noted, “After reviewing IgG4-Related Disease (IgG4-RD) and XmAb5871 literature, we are more confident in XmAb5871's potential for success and increase our estimates for its probability of reaching market to 40% (prior 26%) and peak sales to $430M (prior $362M). Our XmAb5871 valuation increases to $9e/share (prior $5e/share). We reiterate our Buy rating and increase our PT to $22.” Xencor closed on Tuesday at $16.98.