Barclays analyst Leon Wang initiated coverage of CinCor Pharma with an Overweight rating and $22 price target. The stock has traded down on competitor news, but CinCor is "undeservingly undervalued" and offers a "rare opportunity to pick up a potential blockbuster asset" with an overlooked second half of 2023 value unlocking readout for cash value, Wang tells investors in a research note. The analyst is "very positive" on the "de-risking" brigHTN Phase 2 data.
Published first on TheFly
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