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Investing.com - Connect Biopharma Holdings Ltd (NASDAQ:CNTB) received a Buy rating initiation from BTIG on Friday, with a price target of $10.00. The $86.37 million market cap biotech is currently trading at $1.55, with InvestingPro analysis indicating the stock is undervalued.
BTIG highlighted Connect Biopharma’s significant transformation over the past year, which included leadership changes, onshoring of operations, and a shift to become a U.S.-centric organization headquartered in San Diego. This transformation has coincided with an impressive 88.66% price return over the past six months, with the stock typically moving counter to broader market trends (beta: -0.14).
The firm noted the company’s refined focus on its IL-4Rα monoclonal antibody rademikibart for development in acute asthma and chronic obstructive pulmonary disorder (COPD), which represent markets of approximately 1 million and 1.3 million emergency room visits annually in the U.S.
BTIG emphasized rademikibart’s "unusually fast and best-in-class onset of effect" as a key differentiator, with potential safety advantages over Dupixent, a validated treatment in the chronic asthma and COPD space.
The research firm also pointed to a near-term catalyst with Phase 1 data for an intravenous formulation of rademikibart expected around year-end 2025, which could demonstrate even faster improvements in forced expiratory volume (FEV1) compared to the subcutaneous version.
In other recent news, H.C. Wainwright has reiterated its Buy rating on Connect Biopharma Holdings Ltd, maintaining a price target of $7. This decision follows new analyses from the company’s Phase 2b asthma program. The research firm highlighted data from Connect Biopharma’s rademikibart program, which is described as a next-generation IL-4Rα antibody. The clinical trials demonstrated a rapid onset of action and sustained lung function improvement. These developments are part of Connect Biopharma’s ongoing efforts in their asthma treatment research. Such analyst ratings can influence investor perceptions and decisions. The reiteration of a Buy rating suggests confidence in the company’s future prospects, according to H.C. Wainwright’s analysis.
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