Humacyte (HUMA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ryan Zimmerman from BTIG maintained a Buy rating on the stock and has a $8.00 price target.
Ryan Zimmerman has given his Buy rating due to a combination of factors including Humacyte’s early commercial traction with their product, Symvess. The company has made significant progress with approximately 34 hospitals initiating the VAC process since its launch, indicating promising initial market acceptance. Furthermore, Humacyte’s Budget Impact Model suggests cost-effectiveness in treatment, potentially reducing amputation and infection rates compared to traditional methods.
Additionally, Humacyte has shown progress in its pipeline with positive results from its V007 study and ongoing enrollment in the V012 study, which could support future regulatory submissions. The company’s financial position has also strengthened with a pro-forma cash balance of $141.9 million following a recent equity offering. These factors, combined with a valuation based on projected sales and a discounted sales analysis, underpin Zimmerman’s confidence in Humacyte’s growth potential.
In another report released on March 26, TD Cowen also maintained a Buy rating on the stock with a $5.00 price target.