Analyst Josh Jennings of TD Cowen maintained a Buy rating on Humacyte (HUMA – Research Report), with a price target of $5.00.
Josh Jennings has given his Buy rating due to a combination of factors centered around the promising developments at Humacyte. The FDA’s acceptance of the Biologics License Application (BLA) for Humacyte’s Human Acellular Vessel (HAV) device is a critical milestone. Jennings is optimistic about the approval prospects, given the streamlined Priority Review process. This could potentially lead to commercialization by the end of 2024, a rapid progression that supports his positive outlook on the stock.
Further boosting confidence in the stock is the fact that the HAV has received both Regenerative Medicine Advanced Therapy (RMAT) designation and a priority designation from the Secretary of Defense, which underscores the device’s significance in treating serious conditions. These designations are expected to expedite the review process, cutting it down from the standard ten months to just six. Assuming approval is granted, Jennings anticipates that Humacyte could start recognizing commercial revenues shortly after, which justifies the Buy rating.
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Humacyte (HUMA) Company Description:
Alpha Healthcare Acquisition Corp is a blank check company.
Read More on HUMA:
- Human Acellular Vessel™ (HAV™) Biologics License Application Granted Priority Review by U.S. FDA for the Treatment of Vascular Trauma
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- Humacyte price target lowered to $15 from $16 at Benchmark
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- Humacyte submits BLA to U.S. FDA seeking approval of HAV
