Capricor Therapeutics (CAPR) stock underwent a massive rally on Wednesday after the clinical-stage biotechnology company announced results from its Phase 3 HOPE-3 trial. The trial evaluated investigational cell therapy Deramiocel as a treatment for Duchenne muscular dystrophy (DMD). This is a rare genetic disorder most commonly found in boys that causes progressive muscle weakness and wasting.
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The big news from this Phase 3 clinical trial of Deramiocel is how effective it was at slowing the progression of DMD. Slowing of skeletal muscle disease progression came in at 54%, ensuring the trial met its primary endpoint. Additionally, the secondary endpoint of Left Ventricular Ejection Fraction came in at 91%, which was another positive for the company.
Craig McDonald, the primary investigator of the HOPE-3 trial, said, “A nearly 54 percent slowing of skeletal muscle disease progression is extraordinary in Duchenne and directly linked to maintaining independence and quality of life in the most severely affected patients with greatest unmet need. The preservation of function reflected in PUL v2.0 translates into real, practical benefits for boys and young men living with this disease, and the effect of Deramiocel on cardiomyopathy will potentially translate to improved long-term survival.”
Capricor Therapeutics Stock Movement Today
Capricor Therapeutics stock was up 291.04% on Wednesday, extending a 149.28% year-to-date rally. However, the shares were still down 50% over the past 12 months.
Today’s clinical trial news triggered heavy trading of CAPR stock, as some 11.43 million shares changed hands today. That’s well above the company’s three-month daily average of about 1.71 million units.
Is Capricor Therapeutics Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Capricor Therapeutics is Strong Buy, based on eight Buy ratings over the past three months. With that comes an average CAPR stock price target of $21.25, representing a potential 14.56% downside for the shares.
