MediWound: EscharEx Phase III Upside and NexoBrid Traction Support Compelling Buy Thesis

Analyst Josh Jennings of TD Cowen maintained a Buy rating on Mediwound, retaining the price target of $25.00.

Josh Jennings has given his Buy rating due to a combination of factors tied to MediWound’s advancing burn and wound-care portfolio and the attractive economics of its addressable markets. He views the recently presented case studies and post-hoc analyses from the ChronEx and Value programs as reinforcing the likelihood of a successful Phase III outcome for EscharEx, which underpins expectations for material revenue contributions starting around 2028.

Jennings also points to NexoBrid’s growing commercial traction and the latest BARDA contract as providing a stable, near-term revenue base that supports the company through its late-stage development milestones. In his view, the roughly $300M NexoBrid opportunity is meaningful relative to the current revenue guide, but the more than $2.5B total addressable market for EscharEx is the primary long-term growth engine, making the current valuation compelling versus MediWound’s multiyear growth potential.

Jennings covers the Healthcare sector, focusing on stocks such as Boston Scientific, TransMedics Group, and Abbott Laboratories. According to TipRanks, Jennings has an average return of 0.0% and a 43.09% success rate on recommended stocks.