TD Cowen analyst Josh Jennings maintained a Buy rating on Humacyte (HUMA – Research Report) today and set a price target of $5.00.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Josh Jennings has given his Buy rating due to a combination of factors that highlight Humacyte’s potential for long-term growth. The recent dip in Humacyte’s stock price, following a $50 million capital raise and challenging market conditions, presents an attractive buying opportunity for investors with a long-term perspective. Jennings is particularly optimistic about the early progress of the Symvess launch, which is crucial for the company’s future revenue growth.
The commercial success of Symvess is expected to enhance investor sentiment. Jennings notes that despite concerns raised by a New York Times article, the FDA’s thorough review of Symvess’ efficacy and safety supports its approval. The company’s recent financial results and updates reveal promising developments, such as the increasing number of hospitals initiating Value Analysis Committee reviews and some already approving the purchase of Symvess. This momentum suggests that Humacyte could engage the majority of Level 1 trauma centers in the US by the end of 2025, bolstering investor confidence in the company’s growth trajectory.
In another report released on March 31, Benchmark Co. also reiterated a Buy rating on the stock with a $17.00 price target.