Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB – Get Free Report) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.14.
A number of equities research analysts have recently issued reports on the stock. Piper Sandler began coverage on shares of Connect Biopharma in a research note on Friday, June 26th. They issued an “overweight” rating and a $7.00 target price on the stock. BTIG Research cut their price objective on shares of Connect Biopharma to $5.00 and set a “buy” rating on the stock in a research report on Wednesday. Wall Street Zen raised Connect Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Canaccord Genuity Group reduced their price objective on Connect Biopharma from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Finally, Oppenheimer decreased their price objective on Connect Biopharma to $5.00 and set an “outperform” rating for the company in a report on Tuesday, September 22nd.
Read Our Latest Analysis on Connect Biopharma
Connect Biopharma Stock Down 10.9%
Connect Biopharma (NASDAQ:CNTB – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The business had revenue of $2.75 million during the quarter, compared to analysts’ expectations of $0.74 million. As a group, equities analysts anticipate that Connect Biopharma will post -1.1 earnings per share for the current fiscal year.
More Connect Biopharma News
Here are the key news stories impacting Connect Biopharma this week:
- Positive Sentiment: Rademikibart, used as an add-on to standard treatment, reduced the rate of treatment failure through one month by 81% versus placebo, with statistical significance (p=0.0122). Connect Biopharma Announces Positive Preliminary Topline Data
- Positive Sentiment: The favorable COPD results support Connect Biopharma’s plan to discuss a potential Phase 3 development program with the U.S. Food and Drug Administration. Advancing rademikibart could expand the company’s addressable market beyond its existing inflammatory-disease opportunities. Connect Biopharma Reports Positive Phase 2 COPD Data
- Positive Sentiment: BTIG Research maintained a “buy” rating while lowering its price target to $5.00, still implying substantial upside from the referenced market price. The target increase in perceived valuation reflects the positive clinical readout.
- Neutral Sentiment: The results are preliminary topline findings from the Seabreeze STAT study. Investors will continue to focus on the full dataset, regulatory feedback, Phase 3 design, funding needs and the company’s ability to replicate the benefit in a larger trial. Seabreeze STAT Study Transcript
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. ADAR1 Capital Management LLC acquired a new position in shares of Connect Biopharma during the first quarter valued at $1,945,000. Knott David M Jr lifted its holdings in Connect Biopharma by 93.9% in the first quarter. Knott David M Jr now owns 387,835 shares of the company’s stock worth $1,016,000 after purchasing an additional 187,835 shares during the period. Richmond Brothers Inc. acquired a new stake in Connect Biopharma in the fourth quarter worth about $489,000. Simplify Asset Management Inc. bought a new position in Connect Biopharma in the 1st quarter valued at about $135,000. Finally, Bank of America Corp DE bought a new position in shares of Connect Biopharma in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 58.72% of the company’s stock.
About Connect Biopharma
Connect Biopharma Holdings Limited (NASDAQ:CNTB) is a clinical-stage biopharmaceutical company focused on developing therapies for chronic inflammatory and immune-mediated diseases. The company’s research is based on insights into T-cell biology and aims to address conditions with significant unmet medical needs, including inflammatory bowel disease and dermatological disorders.
Connect Biopharma’s pipeline has included CBP-201, an antibody targeting the interleukin-4 receptor alpha pathway, and CBP-307, an oral sphingosine-1-phosphate receptor modulator.
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