JMP Securities analyst Jonathan Wolleben initiated coverage of Skye Bioscience with an Outperform rating and $15 price target. Skye is developing a first-in-class antibody inhibitor of CB1 that will improve upon two key shortcomings of current anti-obesity medications: gastrointestinal tolerability and unfavorable body composition changes, the analyst tells investors in a research note. The firm says the obesity market growing with emerging unmet needs and that nimacimab is a best positioned CB1 inhibitor.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SKYE:
- Skye Bioscience Welcomes New CMO Dr. Puneet Arora
- Skye Bioscience names Puneet Arora, MD as Chief Medical Officer
- Skye Bioscience management to meet with Cantor Fitzgerald
- Skye Bioscience to Participate in Upcoming Healthcare Investment Conferences
- Skye Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)