Brandon Folkes, an analyst from H.C. Wainwright, reiterated 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 highlighting the potential of Connect Biopharma Holdings. A key element of his analysis is the promising outlook for rademikibart, which is expected to deliver strong data from Phase 2 studies in acute asthma and COPD exacerbations by 2026. The drug has shown a significant reduction in FEV within 24 hours, distinguishing it from existing therapies and positioning it as a potential competitor to Dupixent in the chronic setting.
Folkes also notes the strategic advantage of rademikibart’s eosinophil profile, which could mitigate some of the safety concerns associated with Dupixent. The potential for a larger partner to invest in further trials and commercialization efforts adds to the attractiveness of Connect Biopharma Holdings. This partnership could leverage the acute label claim and expedite the path to market for chronic indications, enhancing the company’s competitive edge in the market.
In another report released yesterday, BTIG also initiated coverage with a Buy rating on the stock with a $10.00 price target.