Climb Bio initiated with a Strong Buy at Raymond James

Raymond James analyst Christopher Raymond initiated coverage of Climb Bio (CLYM) with a Strong Buy rating and $25 price target The company’s two lead assets – CLYM116 in development for IgAN and budoprutug in development for a variety of rare renal/autoimmune indications – are poised for “significant value creation,” says the analyst, who anticipates CLYM116 will have initial Phase 1 healthy volunteer data mid-2026 and that budoprutug will have three proof of concept readouts in the second half of the year.