Northland starts Connect Biopharma at Outperform on chance to define new class

As previously reported, Northland analyst Carl Byrnes initiated coverage of Connect Biopharma (CNTB) with an Outperform rating and $7.50 price target Lead candidate rademikibart is positioned as the first biologic for treating acute exacerbations in asthma and COPD, addressing “a major unmet need” and “poised to define a new therapeutic category,” the analyst tells investors. Topline data from its Phase 2 studies is expected in the first half of 2026, notes the analyst, who sees peak sales potential exceeding $5B.