In a report released yesterday, Michael Okunewitch from Maxim Group maintained a Buy rating on Longeveron, with a price target of $6.00.
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Michael Okunewitch has given his Buy rating due to a combination of factors related to Longeveron’s promising developments in their pipeline. The company recently received IND clearance for a Phase 2 registrational study of their lead product, Laromestrocel, targeting pediatric dilated cardiomyopathy (DCM). This condition affects a significant number of children globally, with limited treatment options, making Longeveron’s approach particularly valuable. The potential for regenerative cell therapies to improve outcomes in similar cardiomyopathies further supports the positive outlook.
Additionally, the expansion into DCM represents a strategic move for Longeveron, as it builds on their existing work with hypoplastic left heart syndrome. The company’s established relationships with major pediatric heart centers could facilitate the study’s progress and eventual market entry. The manageable size of the target indications and the potential for shared resources between them enhance the commercial viability, making the investment in Longeveron appealing.
In another report released on June 27, Roth MKM also reiterated a Buy rating on the stock with a $10.00 price target.
LGVN’s price has also changed slightly for the past six months – from $1.810 to $1.660, which is a -8.29% drop .