H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Capricor Therapeutics today and set a price target of $24.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Capricor Therapeutics’ ongoing efforts and developments. The company’s proactive response to the FDA’s Complete Response Letter (CRL) for deramiocel, a treatment for cardiomyopathy associated with Duchenne Muscular Dystrophy (DMD), demonstrates their commitment to addressing regulatory concerns. Capricor’s response letter provided clarifications and outlined a plan to tackle the issues raised by the FDA, including statistical adjustments that showed significant efficacy results.
Moreover, despite the FDA’s concerns about the design of the HOPE-2 study, Capricor highlighted the cardiac origin of deramiocel and its potential benefits for cardiovascular function. The company also addressed the consistency of cardiac-related endpoints, with most parameters favoring deramiocel, suggesting a positive impact on cardiac tissue. Additionally, Capricor has remedied the CMC-related deficiencies noted in the CRL. These efforts, along with the anticipation of upcoming HOPE-3 data, underpin Pantginis’s optimistic outlook on the company’s ability to advance its regulatory and clinical objectives.