Leerink Partners analyst Thomas Smith reiterated a Buy rating on Climb Bio (CLYM – Research Report) on March 25 and set a price target of $10.00.
Thomas Smith has given his Buy rating due to a combination of factors related to Climb Bio’s strategic advancements and promising pipeline. The company has recently received FDA clearance to initiate multiple clinical trials for its lead asset, budoprutug, across several indications including primary membranous nephropathy, immune thrombocytopenia, and systemic lupus erythematosus. These developments highlight Climb Bio’s commitment to advancing its B-cell-targeting therapies, which have shown compelling data in earlier trials.
Furthermore, Climb Bio’s efforts to develop a subcutaneous formulation of budoprutug and the ongoing IND-enabling studies for their anti-APRIL antibody, CLYM116, underscore their robust pipeline potential. The anticipated release of preclinical data and head-to-head comparisons with other antibodies could further differentiate CLYM116 in terms of half-life and potency. Smith views Climb Bio as a promising player in the CD19-targeting space for autoimmune diseases, offering a favorable valuation and potential for significant clinical and commercial success.
Smith covers the Healthcare sector, focusing on stocks such as Celldex, Cartesian Therapeutics, and Immunovant. According to TipRanks, Smith has an average return of 35.2% and a 46.28% success rate on recommended stocks.