Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - H.C. Wainwright initiated coverage on Catalyst Biosciences (NASDAQ:CBIO) Monday with a Buy rating and a $25.00 price target. The stock, currently trading at $12.85 with a market cap of $8.21 million, has seen a notable 8.53% gain over the past week. According to InvestingPro data, analyst targets range from $22 to $28, suggesting significant upside potential.
The firm views Catalyst Biosciences as a preclinical-stage, oncology-focused biotech company with an attractive valuation for its PD-1 x VEGF asset, which is risk-mitigated by competitors. H.C. Wainwright also considers the company a potential merger and acquisition target. InvestingPro analysis shows the company maintains a strong financial health score of 3.37 (rated as GREAT), with a current ratio of 3.62 indicating solid short-term liquidity.
The company’s lead asset, CR-001, is a bispecific antibody targeting programmed cell death protein 1 (PD-1) and vascular endothelial growth factor (VEGF). These targets are well-validated in oncology treatments, with established drugs like Keytruda and Avastin already deployed across multiple cancer indications.
CR-001 was designed as a fast-follower to Summit Therapeutics (NASDAQ:SMMT)’ ivonescimab, which has shown a 49% reduction in risk of death or progression in certain lung cancer cases versus Keytruda. According to H.C. Wainwright, CR-001 closely mirrors ivonescimab in laboratory tests.
Catalyst Biosciences expects to file an Investigational New Drug application for CR-001 in the fourth quarter of 2025, with interim proof-of-concept data expected in the second half of 2026. The firm highlighted the valuation discrepancy between Catalyst’s $14 million enterprise value and Summit’s $20 billion. For deeper insights into Catalyst Biosciences’ valuation metrics and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, GlycoMimetics announced a 1-for-100 reverse stock split, which will significantly reduce the number of its outstanding common shares from about 64.5 million to approximately 0.645 million. This move comes ahead of its anticipated merger with Crescent Biopharma, although the total authorized common stock will remain unchanged at 175 million shares. Meanwhile, Crescent Biopharma has appointed Jan Pinkas as its new chief scientific officer. Pinkas brings over 20 years of experience in oncology drug development, particularly in antibody-drug conjugates. In analyst coverage, Wedbush initiated coverage on Catalyst Biosciences with an Outperform rating and a price target of $27.00. Catalyst Biosciences is noted for its development of oncology-focused treatments, including a PD-1 x VEGF bispecific and two Top1i-ADC programs. These developments reflect ongoing strategic and leadership changes within these companies.
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