Connect Biopharma initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Connect Biopharma with a Buy rating and $7 price target. The company is focused on developing next generation assets against validated targets in immunology and inflammatory diseases, the analyst tells investors in a research note. The analyst says the “highly positive” results for rademikibart in atopic dermatitis and asthma announced, an excluding China partnership or licensing deal in 2024 is likely, which would be a significant catalyst.