Analyst Josh Jennings of TD Cowen maintained a Buy rating on Mediwound, with a price target of $25.00.
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Josh Jennings’s rating is based on Mediwound’s promising financial performance and strategic advancements. The company reported a significant increase in Q3 revenue, driven by the strong US demand for NexoBrid, which saw its highest quarterly sales since its US launch. This growth is supported by the broad utilization of NexoBrid across more than 60 US burn centers and plans to secure a permanent CPT code, which could further enhance adoption.
Additionally, Mediwound has strengthened its financial position with a direct offering and warrant exercises, bolstering its cash reserves. The completion of a new manufacturing facility for NexoBrid is set to increase production capacity significantly, aligning with the company’s optimistic revenue projections for the coming years. These factors collectively contribute to a positive outlook for Mediwound, justifying the Buy rating.