In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Mediwound, with a price target of $31.00.
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.
Swayampakula Ramakanth has given his Buy rating due to a combination of factors that suggest potential growth for MediWound. The upcoming Request for Proposal (RFP) from the Biomedical Advanced Research and Development Authority (BARDA) could significantly benefit MediWound if they secure the contract. This RFP aims to support inventory reserves and the development of a next-generation, room-temperature stable version of their NexoBrid product, which aligns with MediWound’s ongoing projects.
Additionally, MediWound has a history of receiving substantial funding from BARDA, totaling approximately $111 million, which has supported the development and procurement of NexoBrid since 2015. With the current contract expiring in 2025, the similarities between the past and upcoming RFPs suggest a strong possibility of continued support. Furthermore, MediWound’s plans to expand manufacturing capabilities, both in Israel and potentially in the US with BARDA’s assistance, could lead to increased production capacity, further solidifying the company’s growth prospects.