Leerink initiated coverage of Camp4 Therapeutics (CAMP) with an Outperform rating and $17 price target The firm believes CMP-CPS-001, the lead program in urea cycle disorders, offers a pathway to differentiation in a well-defined total addressable population, good product/market fit with Camp4’s regRNA-targeting ASO approach, and a steady cadence of data catalysts to clarify the asset’s clinical profile in the time horizon contemplated by its rating. Beyond CMP-CPS-001, Leerink sees potential BD/licensing of Camp4’s RAP platform and further pipeline development as a source of unmodeled upside to its projections.
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