Capricor Therapeutics: A Buy Rating Backed by Financial Stability and Promising DMD Treatment Developments

Maxim Group analyst Jason McCarthy maintained a Buy rating on Capricor Therapeutics (CAPR – Research Report) yesterday and set a price target of $12.00.

Jason McCarthy has given his Buy rating due to a combination of factors related to Capricor Therapeutics’ promising developments and strategic positioning. The company’s financial situation appears stable, with a reported $39.9M in cash providing runway into the fourth quarter of 2024, and the progression of its Phase 3 ‘HOPE-3’ study for Duchenne Muscular Dystrophy (DMD) shows promise with the full enrollment of cohort A and a positive interim analysis leading to a substantial milestone payment. This financial stability, along with anticipated topline data, contributes to the positive outlook.
Moreover, Capricor’s recent interactions with the FDA have been constructive, leading to planned discussions for a pre-BLA meeting and a rolling BLA submission. The safety profile of CAP-1002, their leading candidate for DMD treatment, has consistently been positive, offering potential advantages over competing gene therapy approaches, which have faced significant safety challenges. The mutation-agnostic nature of CAP-1002 further enhances its appeal, positioning it as a versatile treatment option for DMD. These factors, combined with the company’s efforts to scale manufacturing in anticipation of demand, underpin McCarthy’s optimistic Buy rating for Capricor Therapeutics.

In another report released yesterday, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $25.00 price target.

CAPR’s price has also changed dramatically for the past six months – from $3.010 to $5.200, which is a 72.76% increase.

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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.