monsitj Stifel initiated coverage of Third Harmonic Bio ( NASDAQ: THRD ) with a buy rating, citing the company’s mast cell disease approach. The investment bank said it sees mast cells as a largely untapped target for inflammatory conditions, with Third Harmonic having “potential first-in-class positioning” as the “only oral wild-type KIT pure play.” It noted that the company plans to start a Phase 2 study for its drug THB335 in chronic spontaneous urticaria after its Phase 1 study.
Stifel added that it saw a “meaningful opportunity in urticaria and other mast cell diseases for a safe and efficacious oral.” The investment bank set its price target for the stock at $23. More on Third Harmonic Bio Seeking Alpha’s Quant Rating on Third Harmonic Bio Historical earnings data for Third Harmonic Bio Financial information for Third Harmonic Bio.
