Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) Stock Has Consensus Price Target of $5.88 According to Analysts

Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) has received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $5.88.

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Connect Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. BTIG Research decreased their target price on shares of Connect Biopharma to $5.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Oppenheimer lowered their price target on shares of Connect Biopharma to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 22nd. Leerink Partners began coverage on shares of Connect Biopharma in a research note on Monday, October 12th. They issued an “outperform” rating and a $4.00 price target on the stock. Finally, Weiss Ratings raised shares of Connect Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th.

Hedge Funds Weigh In On Connect Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE acquired a new position in Connect Biopharma during the first quarter worth approximately $41,000. Simplify Asset Management Inc. bought a new stake in Connect Biopharma in the first quarter valued at approximately $135,000. Knott David M Jr raised its stake in Connect Biopharma by 93.9% in the first quarter. Knott David M Jr now owns 387,835 shares of the company’s stock valued at $1,016,000 after buying an additional 187,835 shares during the period. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Connect Biopharma in the first quarter valued at approximately $1,945,000. Institutional investors own 58.72% of the company’s stock.

Connect Biopharma Stock Down 8.8%

Shares of Connect Biopharma stock opened at $0.80 on Thursday. Connect Biopharma has a 1 year low of $0.79 and a 1 year high of $3.82. The business has a 50-day moving average of $1.58 and a two-hundred day moving average of $2.08. The company has a market capitalization of $50.26 million, a P/E ratio of -0.67 and a beta of -0.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.37 and a quick ratio of 2.37.

Connect Biopharma (NASDAQ:CNTB) last announced its earnings results on Wednesday, August 12th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.04. The company had revenue of $2.75 million for the quarter, compared to analyst estimates of $0.74 million. As a group, equities analysts predict that Connect Biopharma will post -1.09 EPS for the current year.

Connect Biopharma Company Profile

Connect Biopharma Corp. is a clinical-stage biopharmaceutical company focused on developing therapies for chronic inflammatory diseases driven by T-cell activity. The company uses its drug-discovery platform to identify and advance small-molecule and antibody-based treatments intended to selectively regulate immune responses while limiting broader immunosuppression.

Its pipeline has included ropsacitinib, formerly known as CBP-307, an oral selective sphingosine-1-phosphate receptor 1 modulator investigated for inflammatory bowel diseases such as ulcerative colitis and Crohn’s disease.