H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Capricor Therapeutics today and set a price target of $24.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Capricor Therapeutics’ strategic plans and ongoing developments. The company is actively addressing the FDA’s concerns regarding the BLA for deramiocel, a treatment for cardiomyopathy in DMD patients, following a CRL. Pantginis views the CRL not as a setback but as an opportunity for Capricor to refine its submission by providing additional data and clarifying labeling requirements.
Capricor’s strategy includes leveraging data from its Phase 3 HOPE-3 clinical trial, which is expected to provide robust evidence of deramiocel’s safety and efficacy. The company plans to change the trial’s primary endpoint to LVEF, aligning it with previous positive data on cardiac health improvements. This strategic move is anticipated to strengthen the case for deramiocel’s approval. Pantginis is optimistic about the upcoming Type A meeting with the FDA and the potential for a successful resubmission, which underpins his Buy rating.
According to TipRanks, Pantginis is an analyst with an average return of -15.4% and a 33.00% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Krystal Biotech, Cytokinetics, and Capricor Therapeutics.
In another report released on July 22, Oppenheimer also reiterated a Buy rating on the stock with a $22.00 price target.