Whitehawk Therapeutics (WHWK) presented "solid" preclinical datasets for its early stage antibody drug conjugates, or ADCs, indicating "substantial clinical evidence" of their potential efficacy against solid tumor targets, Oppenheimer said in a Monday note.

Out of the company's portfolio of ADCs, HWK-007 and HWK-016 are currently under clinical studies and HWK-206 is expected to follow in Q3, the note said.

HWK-007, which targets Protein Tyrosine Kinase 7 or PTK7, demonstrated "potent activity," while HWK-016 showed "clear superiority" to an earlier ADC targeting Mucin 16 or MUC16, Oppenheimer said. HWK-206 also showed enhanced properties against Seizure-Related Homolog Protein 6 or SEZ6, the firm added.

Oppenheimer has an outperform rating and $5 price target on Whitehawk Therapeutics.

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