Analyst Ananda Ghosh of H.C. Wainwright maintained a Buy rating on Skye Bioscience, retaining the price target of $20.00.
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Ananda Ghosh has given his Buy rating due to a combination of factors that highlight the potential of Skye Bioscience’s nimacimab as an adjunct therapy. The Phase 2a CBeyond study demonstrated that nimacimab, when combined with semaglutide, resulted in a statistically significant improvement in body composition and weight loss, with a nearly 3% incremental benefit. This combination also showed a reduction in weight regain post-treatment, which is a significant advantage for future maintenance indications.
Furthermore, the safety profile of nimacimab was clean, with no new neuropsychiatric signals or additional gastrointestinal burden, supporting the potential for dose escalation. The data suggests that nimacimab could enhance and extend the benefits of GLP-1 therapies without replacing them, akin to the “ezetimibe of obesity.” The upcoming readouts in 2026 are expected to further inform the development path and potential regulatory discussions, reinforcing the Buy rating based on the promising adjunct potential of nimacimab.
Ghosh covers the Healthcare sector, focusing on stocks such as Maze Therapeutics, Inc., ProQR, and Skye Bioscience. According to TipRanks, Ghosh has an average return of 63.5% and a 79.49% success rate on recommended stocks.
In another report released today, Oppenheimer also maintained a Buy rating on the stock with a $10.00 price target.