Analyst Thomas Smith of Leerink Partners reiterated a Buy rating on Climb Bio, with a price target of $10.00.
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Thomas Smith’s rating is based on Climb Bio’s strong clinical execution and promising pipeline developments. The company has maintained its clinical timelines, actively enrolling patients in Phase 1b studies for budoprutug in immune thrombocytopenia and systemic lupus erythematosus, with plans to initiate a Phase 2 study in primary membranous nephropathy. These developments are supported by encouraging early data showing promising B cell depletion and a favorable safety profile.
Additionally, Climb Bio’s financial position is solid, with a cash runway expected to fund operations through 2027. The company’s strategic focus on the burgeoning CD19-targeting space for autoimmune diseases and its potential for pipeline expansion make it an attractive investment opportunity. Smith views Climb Bio as a compelling way to gain exposure to this validated target and reiterates an Outperform rating, reflecting confidence in the company’s future prospects.
In another report released today, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $9.00 price target.