Wells Fargo initiated coverage of Helus Pharma (HELP) with an Overweight rating. The bank set a $16 price target for the biotechnology firm. This target represents significant potential upside from current trading levels.
The rating follows a broader analysis of companies developing therapies for depression. Analysts highlighted the potential of HLP003, the company's lead candidate for treatment-resistant depression.
Wells Fargo cited a favorable risk-to-reward profile ahead of upcoming clinical milestones. Helus Pharma expects Phase 3 trial results in the fourth quarter of 2026.