In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Capricor Therapeutics (CAPR – Research Report), with a price target of $12.00.
Jason McCarthy’s Buy rating for Capricor Therapeutics is based on a combination of factors. Firstly, Capricor’s financial health is stable, as seen in their third quarter results where they reported a net loss of $6.4M but also held a cash balance of $28.5M. This balance does not include the $23M raised from equity financing in September, meaning the company has a solid financial runway into 2025.
Secondly, Capricor’s Phase 3 study of CAP-1002 in Duchenne Muscular Dystrophy (DMD) has fully enrolled the targeted 58 patients, and is progressing as planned with interim futility analysis expected by the end of the year. A positive outcome from this analysis could lead to a first milestone payment under a commercialization agreement. Additionally, Capricor had constructive discussions with the FDA over the Phase 3 design, which will be used to support the Biologics License Application (BLA) filing. Furthermore, the FDA has approved a new cohort to facilitate the inclusion of a San Diego facility for commercial manufacturing, which is not required for the registration, but will further strengthen the company’s position. The promising trial design, low dropout rate, and potential for success in the Phase 3 program contribute to McCarthy’s Buy rating.
McCarthy covers the Healthcare sector, focusing on stocks such as VistaGen Therapeutics, Aprea Therapeutics, and Context Therapeutics. According to TipRanks, McCarthy has an average return of -30.7% and a 17.27% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.
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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 reports Q3 EPS (25c), consensus (29c)
- 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
