Guggenheim initiates Buy rating for Pyxis Oncology with a $5 price target.

Guggenheim initiates Buy rating for Pyxis Oncology with a $5 price target.

Guggenheim Securities has initiated coverage on Pyxis Oncology Inc. (NASDAQ: PYXS) with a Buy rating and a $5.00 price target. The research firm, which began its coverage on September 2, 2025, noted that analyst targets range from $5.00 to $8.00, reflecting the stock's strong momentum, which has seen it gain over 10% in the past week [1].

The primary focus of Guggenheim’s coverage is MICVO, Pyxis's first-in-concept non-internalizing ADC targeting EDB+FN in the tumor stroma. Initial phase 1 data released in November 2024 showed promising activity signals with a predictable safety profile. The company maintains a robust financial position, with more cash than debt on its balance sheet and liquid assets exceeding short-term obligations [1].

Guggenheim believes the market may have underestimated MICVO’s potential. The initial phase 1 data indicated a 33-50% objective response rate in HNSCC patients, which the firm considers significant for monotherapy activity in this cancer type. This early development trajectory compares favorably to MRUS’s petosemtamab (EGFRxLGR5), which achieved a market capitalization exceeding $1 billion after demonstrating consistent efficacy in subsequent data updates [1].

Additionally, Pyxis Oncology recently announced updates to its Phase 1 monotherapy clinical trial of micvotabart pelidotin, formerly known as PYX-201. The trial, a first-in-human study, aims to assess the safety and efficacy of the treatment in patients with advanced solid tumors. The company confirmed that the maximum number of patients permitted to enroll in the trial remains as previously disclosed [1].

Pyxis Oncology also reported the retirement of Pamela Connealy from her roles as Chief Financial Officer and Chief Operating Officer. The company clarified that her retirement was not due to any disagreements related to financial practices or disclosures. Furthermore, Pyxis Oncology held its Annual Meeting of Stockholders, where three Class I directors were elected to serve until 2028 [1].

References:
[1] https://www.investing.com/news/analyst-ratings/pyxis-oncology-stock-initiated-with-buy-rating-at-guggenheim-93CH-4223873