Chemomab Therapeutics price target raised to $25 from $10 at Oppenheimer

Oppenheimer raised the firm’s price target on Chemomab Therapeutics (CMMB) to $25 from $10 and keeps an Outperform rating on the shares to reflect Q2 results and management’s intent to advance nebokitug in primary sclerosing cholangitis solely based on a third-party partnership, licensing or other similar transaction. The firm, which notes that its raised target reflects the potential value it sees to shareholders under an M&A or licensing scenario, points out that it also accounts for the company’s 4-to-1 reverse share split.