Two brokerages bullish about Third Harmonic; see blockbuster potential in hives drug

Third Harmonic Bio

10/10/2022 13:53

** Jefferies initiates coverage of biopharma co Third
Harmonic Bio Inc  THRD.O  with a "buy" rating and a price target
of $30
    ** Brokerage believes co's drug, THB001, for curing skin and
respiratory complaints shows promise as per pre-clinical and
clinical data; notes its side effects are mild and reversible
    ** Drug's potential to treat severe chronic spontaneous
urticaria (CSU), also known as hives, is promising - brokerage
    ** Patients with the disease are largely untreated as per a
German study, says Jefferies noting a large market for co's drug
    ** Brokerage also says peer drug Xolair is injection based
and thus less likely to be recommended by physicians, adding
potential for Third Harmonic's oral based drug
    ** Cowen initiates with an "outperform" rating, believes co
could have "blockbuster potential" through CSU treatment alone
    ** Up to Friday's close, stock was up about 18% from its
mid-Sept. IPO price of $17
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))