Evercore ISI Starts Sykes Enterprises (SYKE) at Outperform

Evercore ISI analyst Michael DiFiore initiates coverage on Sykes Enterprises (NASDAQ: SYKE) with a Outperform rating and a price target of $10.00.

The analyst comments "We’re initiating coverage on SKYE with an OP rating and $10 PT. We think nimacimab— the only weekly SC large molecule CB1 inhibitor in development—can fill critical gaps in obesity care: (i) as a GLP-1 off-ramp/maintenance option, (ii) as combo therapy in severe obesity, and (iii) as a non-incretin monotherapy option for select patients. Mechanistically, peripheral CB1 blockade improves metabolic signaling (↑GLP-1, ↓leptin, ↑ energy expenditure, + a lot more) without the CNS liabilities that doomed the 1st-gen CB1 agents. Although preclinical & early human safety suggest minimal CNS penetration, the 26-wk ph2a readout in late 3Q/early 4Q25 is the next major test. Nimacimab’s bar to clear in this trial is 5% pboadj. weight loss, which we think it can do based on its potency and peripheral PK profile. Aside from its SC weekly formulation, nimacimab is also differentiated vs its 2 small molecule competitors in terms of its observed level of CNS penetration (it seems to have the least) and it’s a negative allosteric inverse agonist, which means it doesn’t need to outcompete natural CB1 ligands."

For an analyst ratings summary and ratings history on Sykes Enterprises click here. For more ratings news on Sykes Enterprises click here.

Shares of Sykes Enterprises closed at $54.00 yesterday.

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