In a report released today, Douglas Tsao from H.C. Wainwright maintained a Buy rating on Daré Bioscience, with a price target of $12.00.
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Douglas Tsao has given his Buy rating due to a combination of factors that underscore the potential of Daré Bioscience’s Ovaprene as a novel contraceptive solution. The positive interim analysis conducted by the independent Data Safety Monitoring Board (DSMB) has bolstered confidence in Ovaprene’s efficacy and safety, with results aligning with company expectations and showing a competitive pregnancy rate compared to existing contraceptive methods. The DSMB’s recommendation to continue the study without modifications and the absence of new safety concerns further support the product’s promise.
Additionally, the potential for a $20 million milestone payment from Bayer, contingent upon the exercise of its commercial option for Ovaprene, could significantly improve Daré’s financial standing. Despite challenges in participant enrollment due to NIH funding cuts, the company’s progress in the pivotal Phase 3 study, supported by a Gates Foundation grant, is promising. The valuation and risks associated with Daré’s stock, including financial and regulatory challenges, have been factored into the Buy rating, with a price target set at $12 based on risk-adjusted revenue estimates.
According to TipRanks, Tsao is a 4-star analyst with an average return of 10.2% and a 42.60% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Argenx Se, and Arcutis Biotherapeutics.