Evercore ISI analyst Cory Kasimov initiated coverage of Upstream Bio (UPB) with an Outperform rating and $40 price target The firm says the company’s sole program verekitug is going after multi-billion dollar indications. Verekitug has a validated mechanism of action, offers a more convenient dosing schedule, and could potentially enable superior efficacy over current thymic stromal lymphopoietin targeting agents, the analyst tells investors in a research note. Evercore believes Upstream’s Phase 2 asthma readout in Q1 of 2026 “could be a meaningful upside catalyst.”
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