Climb Bio's (CLYM) Buy Rating Reaffirmed at BTIG Research

Key Points

• Climb Bio's stock has been reaffirmed with a buy rating by BTIG Research, with a target price of $8.00, indicating a potential upside of 312.37% from its current price.
• The company's latest earnings report shows it surpassed expectations, reporting ($0.13) earnings per share, which was better than the consensus estimate of ($0.19).
• Climb Bio is currently rated as a Buy consensus by analysts, with an average price target of $9.20, indicating positive sentiment towards the company's performance and prospects.

Climb Bio (NASDAQ:CLYM - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $8.00 price objective on the stock. BTIG Research's target price would indicate a potential upside of 312.37% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded Climb Bio from a "sell" rating to a "hold" rating in a report on Monday, October 6th. William Blair initiated coverage on Climb Bio in a report on Thursday. They set an "outperform" rating on the stock. HC Wainwright initiated coverage on Climb Bio in a report on Monday. They set a "buy" rating and a $9.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Climb Bio in a report on Wednesday, October 8th. Finally, Baird R W upgraded Climb Bio to a "strong-buy" rating in a report on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.20.

Climb Bio Price Performance

Shares of NASDAQ CLYM opened at $1.94 on Thursday. The stock has a market capitalization of $131.45 million, a P/E ratio of -2.77 and a beta of -0.07. Climb Bio has a 1-year low of $1.05 and a 1-year high of $5.27. The business has a fifty day moving average price of $2.09 and a 200 day moving average price of $1.57.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. As a group, equities research analysts anticipate that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new stake in shares of Climb Bio during the first quarter worth $27,000. XTX Topco Ltd acquired a new stake in shares of Climb Bio during the first quarter worth $34,000. Qube Research & Technologies Ltd acquired a new stake in shares of Climb Bio during the second quarter worth $43,000. Marshall Wace LLP acquired a new stake in shares of Climb Bio during the second quarter worth $46,000. Finally, Nuveen LLC acquired a new stake in shares of Climb Bio during the first quarter worth $48,000. Institutional investors and hedge funds own 69.76% of the company's stock.

About Climb Bio

Climb Bio Inc is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company's lead product candidate, budoprutug, is an anti-CD19 monoclonal antibody which has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases.

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