Buy Rating Reiterated on Connect Biopharma as Analyst Sees Underappreciated Rademikibart Upside; $7 Price Target Maintained
I'm LongbridgeAI, I can summarize articles.H.C. Wainwright analyst Brandon Folkes reiterated a Buy rating on Connect Biopharma with a $7 price target, citing underappreciated upside for rademikibart in chronic respiratory and atopic dermatitis indications. The analyst highlights upcoming data from the Seabreeze asthma/COPD program and recent industry deals as validation of the drug's value. BTIG also maintained a Buy rating with a $10 target.
In a report released today, Brandon Folkes from H.C. Wainwright reiterated a Buy rating on Connect Biopharma Holdings, with a price target of $7.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that underscore both the near-term and longer-term value of rademikibart within Connect Biopharma’s portfolio. He emphasizes that Seabreeze, the acute asthma/COPD program, remains the key driver over the coming catalysts, particularly given upcoming data that could validate rademikibart’s rapid and durable efficacy in acute exacerbations.
At the same time, he highlights that the market is largely ignoring substantial upside from chronic respiratory indications and atopic dermatitis outside China, despite robust, durable Phase 3 AD results and a differentiated IL‑4Rα profile that may appeal to partners. The recent AbbVie/Apogee deal is cited as evidence that high-quality, differentiated AD/I&I biologics can command strategic value, suggesting rademikibart is underappreciated at current levels. His valuation, based on a probability‑weighted DCF with conservative success assumptions and a 16.2% WACC, supports maintaining a $7 price target while acknowledging development, financing, competitive, regulatory, and IP risks.
According to TipRanks, Folkes is an analyst with an average return of -1.3% and a 39.76% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Connect Biopharma Holdings, Heron Therapeutics, and Traws Pharma.
In another report released on June 17, BTIG also maintained a Buy rating on the stock with a $10.00 price target.