Chemomab Therapeutics (CMMB – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Okunewitch from Maxim Group maintained a Buy rating on the stock and has a $7.00 price target.
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Michael Okunewitch has given his Buy rating due to a combination of factors that highlight Chemomab Therapeutics’ promising prospects. The company has reported a clear regulatory pathway for its lead asset, Nebokitug, following positive results from the Phase 2 SPRING trial. This streamlined path to approval, which does not require costly biomarker endpoints, is expected to facilitate enrollment and reduce expenses, thereby enhancing the drug’s development efficiency.
Additionally, Chemomab’s strategic discussions for partnerships and the FDA’s favorable feedback on the Phase 3 study design further bolster confidence in the company’s future. The unique mechanism of action of CM-101, targeting both inflammatory and fibrotic pathways, differentiates it from other treatments and is supported by biomarker analyses. These factors, combined with a revised financial outlook and a strategic focus on advancing Nebokitug, underpin the Buy rating with a 12-month price target of $7.00.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $10.00 price target.