Humacyte (HUMA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Suraj Kalia from Oppenheimer remains neutral on the stock and has a $5.00 price target.
Suraj Kalia’s Buy rating for Humacyte is informed by a variety of factors. Firstly, the company’s Q3 results showed that despite having no revenue, Humacyte managed to control its operational expenses better than expected. Secondly, the company’s Trauma top-line V005 results were encouraging, with expanded results to be released in the Veith Symposium. Notably, the company’s cash and cash equivalents remain substantial at $100 million, a figure that is expected to provide sufficient capital for the company’s future ventures.
Furthermore, Humacyte is on track for a Trauma BLA filing in the fourth quarter of 2023. This, coupled with a priority ruling from RMAT about 60 days after, makes the company’s future prospects seem robust. Finally, Kalia notes that Humacyte’s platform technology is intriguing, albeit high-risk. As such, the stock could be a suitable investment for long-horizon investors who are willing to tolerate this risk. Kalia’s rating also takes into account the adjustment in estimates for the 3Q results and BLA commentary.
According to TipRanks, Kalia is a 4-star analyst with an average return of 3.9% and a 49.89% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Edwards Lifesciences, Silk Road Medical, and TransMedics Group.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $8.00 price target.
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Humacyte (HUMA) Company Description:
Alpha Healthcare Acquisition Corp is a blank check company.
Read More on HUMA:
- Humacyte Third Quarter 2023 Financial Results and Business Update
- Humacyte Publishes Preclinical Results Showing Human Acellular Vessel™ (HAV™) Patency as Modified Blalock–Taussig–Thomas Shunt in Juvenile Primate Model
- Humacyte publishes preclinical study on HAV to treat Tetralogy of Fallot
- Humacyte to Present at the Cantor Global Healthcare Conference
- Humacyte to Host In-Person KOL Event at the New York EDITION on September 20, 2023
