Chemomab: Maxim Group Raises Buy Rating, PT to $7 from $4

Chemomab: Maxim Group Raises Buy Rating, PT to $7 from $4

In a recent research report published on May 13, 2024, Maxim Group initiated coverage on Chemomab Therapeutics (CMMB), assigning the company a "Buy" rating with a new price target of $4.00 [1]. This marks the first time Maxim Group has covered Chemomab, reflecting the analyst firm's positive outlook on the company's potential.

Chemomab, a clinical-stage biotech firm, was founded in Israel in 2011 and focuses on discovering and developing innovative therapies for unmet needs in the field of fibrosis-related diseases [2]. The company's lead candidate, CM-101, is designed to neutralize and inhibit the activity of CCL24, a soluble protein that plays a crucial role in promoting fibrosis and inflammation [2]. With potential applications in various severe and life-threatening fibrotic and inflammatory diseases, Chemomab is currently conducting clinical trials for rare diseases such as orphan diseases, primary sclerosing cholangitis (PSC), and systemic sclerosis (SSc) [2].

Chemomab reported its 2024 first-quarter financial results on May 9, 2024, with a net income of -$386,800 and a basic earnings per share of -$0.01 [2]. The company's current market price stands at $1.73, which is below Maxim Group's price target of $4.00. However, it is important to note that analyst ratings are subjective and can change over time, depending on various factors such as market conditions, new data, and regulatory developments.

Maxim Group's positive outlook on Chemomab is not an isolated sentiment. The company has a total of 5 analysts covering it, with 4 of these analysts maintaining a "Buy" rating [1]. The most recent upgrade for Chemomab was reported by Oppenheimer on May 6, 2024, when they raised their price target to $6 [1].

With its promising pipeline and positive analyst coverage, Chemomab Therapeutics is well-positioned to continue its growth trajectory and potentially deliver significant returns for investors.

References:
[1] Benzinga. (2025, February 20). Chemomab Therapeutics (CMMB) Stock Analysis. Retrieved from https://www.benzinga.com/quote/CMMB/analyst-ratings
[2] 10jqka. (2024, May 14). Maxim Group Initiates Coverage on Chemomab with Buy Rating, $4.00 Target Price. Retrieved from https://m.10jqka.com.cn/20240514/c657793050.shtml