In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Capricor Therapeutics, with a price target of $25.00.
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Jason McCarthy’s rating is based on Capricor Therapeutics’ upcoming major catalyst, the HOPE-3 Phase 3 trial data, which is anticipated to be released within weeks. This data is crucial as it follows a complete response letter (CRL) from the FDA earlier this year, and positive results could significantly impact the company’s future. The previous HOPE-2 trial data showed promising results, and the company has since worked closely with the FDA to align on the necessary endpoints for the BLA resubmission.
McCarthy believes that the probability of success for the HOPE-3 trial is high, given the sustained therapeutic benefits observed in prior studies. Even if the primary endpoint is missed, success in secondary cardiac-related endpoints could still support a BLA refiling, thanks to the regulatory flexibility seen in the cell therapy space. The anticipation of the HOPE-3 data, combined with the current low stock price, suggests that there is significant potential value in Capricor’s lead candidate, Deramiocel, which has yet to be fully realized in the market.
McCarthy covers the Healthcare sector, focusing on stocks such as SCYNEXIS, OS Therapies Incorporated, and Neuphoria Therapeutics. According to TipRanks, McCarthy has an average return of -14.4% and a 33.20% success rate on recommended stocks.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $13.00 price target.