In a report released today, Josh Jennings from TD Cowen maintained a Buy rating on Humacyte, with a price target of $3.50.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Humacyte’s promising progress and financial performance. The company has shown significant growth in its Symvess product sales, with a notable increase from the previous quarter, indicating strong market traction. Additionally, Humacyte’s strategic collaborations in the medical technology sector suggest potential for further expansion and application of its bioengineered human tissue products.
Moreover, Humacyte’s financial health appears robust, with a substantial reduction in net loss compared to the previous year and a successful financing deal that bolstered its cash reserves. The company’s ongoing efforts in research and development, particularly in the areas of dialysis access and cardiovascular applications, further reinforce the positive outlook. These elements combined provide a solid foundation for the Buy rating, reflecting confidence in Humacyte’s future growth and market potential.
According to TipRanks, Jennings is a 2-star analyst with an average return of 0.6% and a 46.39% success rate. Jennings covers the Healthcare sector, focusing on stocks such as Medtronic, TransMedics Group, and Dexcom.