H.C. Wainwright analyst Ananda Ghosh initiated coverage of Skye Bioscience (SKYE) with a Buy rating and $20 price target The firm believes the company’s nimacimab can introduce a new mechanism of longstanding interest to obesity clinicians. Nimacimab is a peripherally restricted monoclonal antibody targeting the CB1 receptor, designed to deliver the metabolic benefits of CB1 blockade without the psychiatric side effects that derailed earlier small molecule antagonists, the analyst tells investors in a research note. H.C. Wainwright views Sykes shares as undervalued at current levels.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SKYE:
- Skye Bioscience presents Phase 1b data from nimacimab study
- Skye Bioscience’s Nimacimab: Promising Phase IIa Trial Results and Buy Recommendation
- Skye Bioscience’s Transformative Potential in Obesity Treatment: A Buy Recommendation by Andy Hsieh
- Skye Bioscience reports results from two preclinical DIO studies on nimacimab
- Skye Bioscience completes 26-week treatment phase in Phase 2a CBeyond study