Climb Bio initiated with an Outperform at Mizuho

Mizuho analyst Joseph Catanzaro initiated coverage of Climb Bio (CLYM) with an Outperform rating and $18 price target The company’s lead assets budoprutug and CLYM116 as positioned to establish a “compelling B-cell targeting pipeline with best-in-indication profiles in autoimmune nephropathies,” the analyst tells investors in a research note. The firm believes Climb’s updates for budoprutug in primary membranous nephropathy in the second half of 2026 and initial data for CLYM116 in healthy volunteers in mid-2026 can provide data points that will “validate potential to drive the deepest reductions in proteinuria within their competitive landscapes.”