Connect Biopharma initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Brandon Folkes initiated coverage of Connect Biopharma (CNTB) with a Buy rating and $7 price target The analyst believes the company’s lead asset, rademikibart, has the potential to be a best-in-class treatment in acute exacerbations of asthma and COPD. With a current negative enterprise value, Connect shares offer a “compelling risk/reward considering the potentially very large market opportunity a best-in-class asthma drug could target,” the analyst tells investors in a research note.