Lake Street Initiates Buy Rating on Connect Biopharma with $9 Price Target
Lake Street analyst Thomas Flaten initiated coverage of Connect Biopharma with a Buy rating and $9 price target. Shares have recently gained traction in the market in recognition of the upcoming Seabreeze STAT readouts and the upside they may deliver to shareholders, argues the analyst, who sees "significant headroom for shares beyond today" ahead of readouts due in the first half of 2026 and as the long-term potential of rademikibart "becomes more fully understood."
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Plus Therapeutics Prices Public Offering, Raising $15 Million
- Financing Update: Plus Therapeutics announced the pricing of 39,473,684 units at $0.38 each, expecting to raise approximately $15 million, which will provide fresh capital to advance its precision diagnostics and radiopharmaceutical programs targeting central nervous system cancers.
- Market Performance: Connect Biopharma's stock rose 5.96% to $2.31 without any new news, reflecting ongoing investor interest in its lead candidate rademikibart's new mechanism of action data and strategic priorities for 2026.
- Sector Momentum: ABVC BioPharma's shares increased by 3.37% to $2.15, suggesting that investor interest may be driven by broader momentum in the biotech sector despite the absence of new corporate updates.
- Clinical Progress: Traws Pharma's stock rose 2.82% to $1.82 following its announcement of filing a U.S. IND application for tivoxavir marboxil, further supporting investor optimism around the company's pipeline.
BTIG Affirms Buy Rating for Connect Biopharma Holdings, Keeps $10 Price Target Intact
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