H.C. Wainwright analyst Ananda Ghosh initiated coverage of Skye Bioscience with a Buy rating and $20 price target. The firm believes the company's nimacimab can introduce a new mechanism of longstanding interest to obesity clinicians. Nimacimab is a peripherally restricted monoclonal antibody targeting the CB1 receptor, designed to deliver the metabolic benefits of CB1 blockade without the psychiatric side effects that derailed earlier small molecule antagonists, the analyst tells investors in a research note. H.C. Wainwright views Sykes shares as undervalued at current levels.
