Brandon Folkes, an analyst from H.C. Wainwright, maintained the Buy rating on Connect Biopharma Holdings. The associated price target remains the same with $7.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight the potential of Connect Biopharma Holdings. One of the key reasons is the recent submission of a New Drug Application for rademikibart in China, which underscores the drug’s potential in treating atopic dermatitis. This development is expected to generate significant milestone payments and royalties, providing the company with financial flexibility to further invest in rademikibart without diluting shareholder value.
Additionally, the company’s focus on developing rademikibart for acute asthma and COPD, with its rapid onset of action, positions it as a unique and valuable asset in the respiratory treatment space. The ongoing Phase 2 studies and the company’s strong cash position into 2027 further bolster its prospects. The recent acquisition activity in the sector, such as Merck’s $10 billion deal, also validates the interest and value in this therapeutic area, making Connect Biopharma an attractive investment opportunity.
According to TipRanks, Folkes is an analyst with an average return of -7.2% and a 33.73% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Trevi Therapeutics, Omeros, and Milestone Pharmaceuticals.