Analyst Josh Jennings from TD Cowen maintained a Buy rating on Mediwound and keeping the price target at $25.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Mediwound’s promising growth trajectory. The company’s Q2 revenue of $5.7 million matched expectations, demonstrating stability and potential for future growth. Mediwound’s NexoBrid product is experiencing strong demand, particularly in the U.S., and the company anticipates an increase in manufacturing capacity to meet this demand, which is expected to contribute significantly to revenue growth.
Furthermore, the ongoing clinical trials for EscharEx, including a pivotal trial in VLU and a head-to-head study against Santyl, indicate potential for future product expansion and market penetration. Despite current operating losses, Mediwound’s financial position remains solid with $32.9 million in cash and equivalents, providing a buffer to support its operational and strategic initiatives. These factors collectively support the Buy rating as they suggest a positive outlook for Mediwound’s financial performance and market presence.