Leerink Partners Thinks Connect Biopharma Holdings’ Stock is Going to Recover

In a report released yesterday, Thomas Smith from Leerink Partners initiated coverage with a Buy rating on Connect Biopharma Holdings (CNTBResearch Report) and a price target of $22.00. The company’s shares closed last Friday at $3.05, close to its 52-week low of $2.34.

According to TipRanks.com, Smith has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -17.6% and a 28.0% success rate. Smith covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Prometheus Biosciences, and Eledon Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Connect Biopharma Holdings with a $22.00 average price target.

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Connect Biopharma Holdings Ltd is a clinical-stage company focused on the discovery and development of next-generation immune modulators for the treatment of serious autoimmune diseases and inflammation. It has leveraged its expertise in the biology of T cell modulation to build a portfolio of drug candidates consisting of small molecules and antibodies targeting critical pathways of inflammation. Its pipeline includes CBP-201, CBP-307, CBP-174, and CBP-233.

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