In a report released yesterday, Thomas Smith from Leerink Partners reiterated a Buy rating on Connect Biopharma Holdings (CNTB – Research Report), with a price target of $6.00.
Thomas Smith has given his Buy rating due to a combination of factors including Connect Biopharma Holdings’ strong management team and promising clinical trial results. The focus of the discussion with the company’s management team, including CEO Zheng Wei and CFO Steve Chan, was on their lead program rademikibart. This program, which targets IL-4Rα with the antibody CBP-201, has shown encouraging results in Phase 2 trials for both atopic dermatitis and severe asthma. Smith’s confidence stems from the potential market opportunities and the anticipation of positive regulatory feedback and partnership interest.
Moreover, Smith’s analysis suggests that there is an underrecognized value in Connect Biopharma Holdings’ assets, especially considering the prospects of rademikibart and icanbelimod, the latter being a modulator for inflammatory bowel disease. Both compounds are working on clinically validated targets, aiming to tap into significant market opportunities. The expectation of impactful regulatory and partnering updates in the first half of 2024 also contributed to Smith’s optimism, leading to the reiteration of the Buy rating for CNTB’s stock.
Smith covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences, Celldex, and Madrigal Pharmaceuticals. According to TipRanks, Smith has an average return of 37.4% and a 46.64% success rate on recommended stocks.
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Connect Biopharma Holdings (CNTB) Company Description:
Connect Biopharma Holdings Ltd is a clinical-stage company focused on the discovery and development of next-generation immune modulators for the treatment of serious autoimmune diseases and inflammation. It has leveraged its expertise in the biology of T cell modulation to build a portfolio of drug candidates consisting of small molecules and antibodies targeting critical pathways of inflammation. Its pipeline includes CBP-201, CBP-307, CBP-174, and CBP-233.
