Maxim raised the firm's price target on HCW Biologics to $5 from $2 and keeps a Buy rating on the shares. The company has taken several steps to improve its positioning strategically, including reclaiming rights to HCW9206 and advancing its lead asset HCW9302 towards initial Phase 1 data in the next few months, the analyst tells investors in a research note. The most significant upcoming event and potential catalyst for the shares is preliminary data from the Phase 1 study of HCW9302 in alopecia areata, which is expected by the end of Q2, the firm added.
