Climb Bio initiated with an Outperform at Wedbush

Wedbush initiated coverage of Climb Bio (CLYM) with an Outperform rating and $12 price target In biotech, being first doesn’t always mean being best and the firm believes budoprutug and CLYM116 carry differentiated profiles versus standard of care. Budoprutug’s indication lineup differs versus other anti-CD19’s like Uplizna. However, Wedbush sees good rationale for use in disease settings like pMN. Climb Bio also holds a full catalyst calendar, the firm notes, with preliminary CLYM116 Phase 1 healthy volunteer data arriving mid-2026, with additional budoprutug readouts in the second half of the year. Wedbush sees downside to about $3/share on cash alone, and upside to about $20/share on pipeline execution.