In a report released yesterday, Thomas Smith from Leerink Partners initiated coverage with a Buy rating on Connect Biopharma Holdings (CNTB – Research 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on CNTB:
- Leerink Partners Thinks Mereo Biopharma Group Plc’s Stock is Going to Recover
- Assembly Biosciences (ASMB) Receives a Buy from Robert W. Baird
- Ionis Pharmaceuticals (IONS) Initiated with a Hold at Leerink Partners
- Evercore ISI Sticks to Its Hold Rating for Carlyle Group (CG)
- Leerink Partners Thinks Affimed’s Stock is Going to Recover