H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Capricor Therapeutics (CAPR – Research Report) today and set a price target of $40.00.
Joseph Pantginis has given his Buy rating due to a combination of factors.
Firstly, Capricor Therapeutics has exceeded expectations in their 3Q23 financial results with an EPS of ($0.25). This is notably higher than the projected ($0.27) and the consensus estimate of ($0.29). Additionally, the company managed to increase its financial resources by raising $23 million in equity, which now provides a financial runway into 2025. This timeline is significant, as it extends beyond the primary endpoint readout of the company’s HOPE-3 study.
Furthermore, the company has successfully enrolled for their HOPE-3 study and is expected to receive an undisclosed milestone payment from its U.S. partner, Nippon Shinyaku. This investment is projected to be in the mid-single-digit million range. Capricor has also provided promising visibility regarding its FDA discussions about the CAP-1002 and the ongoing pivotal HOPE-3 program in DMD patients. The company’s recent financial boost of $23 million and potential further milestone payments ensure it is well-funded for future endeavors. These positive financial and operational developments have led to Pantginis’ Buy rating for Capricor Therapeutics’ stock.
According to TipRanks, Pantginis is an analyst with an average return of -14.8% and a 25.40% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as PDS Biotechnology, Viking Therapeutics, and aTyr Pharma.
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Capricor Therapeutics (CAPR) Company Description:
Capricor Therapeutics, Inc. engages in the discovery, development and commercialization of first-in-class biological therapies for the treatment of cardiac and other serious medical conditions. Its product candidate consists of CAP-1002, Cenderitide, Exosomes, CAP-1001, CU-NP and CSps. The company was founded in August 2005 and is headquartered in Beverly Hills, CA.
Read More on CAPR:
- Capricor Therapeutics to Present Third Quarter 2023 Financial Results and Recent Corporate Update on November 14
- Is CAPR a Buy, Before Earnings?
- Capricor Therapeutics and Parent Project Muscular Dystrophy to Host Webinar to Review Latest Developments of CAP-1002 Program
- Capricor Therapeutics Announces Late-Breaking Presentations at 28th Annual Congress of the World Muscle Society
- Capricor Therapeutics announces late-breaking presentations at WMS
