Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Capricor Therapeutics (CAPR – Research Report). The associated price target remains the same with $25.00.
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Jason McCarthy has given his Buy rating due to a combination of factors surrounding Capricor Therapeutics. The company’s recent financial results showed a substantial cash reserve, which positions it well for future developments. Additionally, the FDA’s plan to hold an advisory committee meeting for Deramiocel, despite causing a temporary drop in share prices, is seen as a positive step given the therapy’s potential to address a significant unmet need in Duchenne muscular dystrophy cardiomyopathy.
Furthermore, the ongoing commercial preparations, including the expansion of manufacturing capacity, suggest that Capricor is gearing up for potential market entry. The progress in regulatory reviews, with no major deficiencies noted, and the company’s strategic initiatives in advancing new therapies, such as the StealthX exosome-based vaccine, further strengthen the outlook. McCarthy views the current share price dip as an opportunity, given the promising data and regulatory support for Deramiocel, which could lead to significant advancements in treating rare pediatric diseases.
According to TipRanks, McCarthy is an analyst with an average return of -21.7% and a 26.41% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Medicus Pharma Ltd, and SELLAS Life Sciences Group.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $43.00 price target.