Humacyte, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Bruce Jackson from Benchmark Co. maintained a Buy rating on the stock and has a $14.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Bruce Jackson has given his Buy rating due to a combination of factors, despite Humacyte’s second-quarter revenue falling short of expectations. The company reported $0.3 million in revenue, which was below both the firm’s estimate and the broader consensus. However, management had previously indicated that the first half of the year’s sales would be minimal, with a significant increase anticipated in the latter half. The company has made notable strides in expanding its customer base, although the onboarding process has taken longer than initially planned.
Despite these early commercialization hurdles, Humacyte is well-positioned to capture a substantial market share in surgical procedures that require vascular grafts. This includes areas such as trauma reconstruction, dialysis patient vascular access, and peripheral arterial disease repair. The company’s product pipeline is advancing, with plans to file an IND for coronary artery bypass grafting in 2025 and a supplemental BLA for dialysis AV access in the second half of 2026. These developments contribute to maintaining the Buy rating, as they indicate potential for future growth and revenue generation.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $3.00 price target.