Camp4 Therapeutics initiated with an Outperform at Wedbush

Wedbush analyst Yun Zhong initiated coverage of Camp4 Therapeutics (CAMP) with an Outperform rating and $8 price target The company’s lead candidate CMP-CPS-01 increases the expression of an enzyme for the treatment of urea cycle disorders that affect approximately 20,000 U.S. and European Union patients with no disease modifying treatments available, the analyst tells investors in a research note. The firm says preclinical data show efficient and sustained reduction of ammonia, the root cause of all disease symptoms, and increased expression of additional urea cycle enzymes as well, suggesting approximately 90% of urea cycle disorders patients will be eligible for treatment. Wedbush’s calculation suggests approximately 2,000 such patients in the U.S., indicating a $1B opportunity.