Analyst Naz Rahman of Maxim Group reiterated a Buy rating on Talphera, with a price target of $3.00.
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Naz Rahman has given his Buy rating due to a combination of factors that indicate a promising outlook for Talphera. The company is advancing in its Phase 3 trial for Niyad, a nafamostat-based anticoagulant, with recent improvements in patient enrollment rates. The activation of new study sites has accelerated the enrollment process, increasing confidence in the trial’s completion by the end of 2025. Additionally, Talphera’s financial position is bolstered by upcoming financing tranches contingent on reaching specific enrollment milestones, which are expected to be met soon.
Naz Rahman also highlights the potential of Niyad as a regional anticoagulant for the extracorporeal circuit, given its favorable safety and efficacy profile compared to existing options. The recent FDA approval for Niyad’s compassionate use program further underscores its clinical promise, allowing its use in patients with specific contraindications to other anticoagulants. These developments, coupled with strong investor support, contribute to a positive outlook for Talphera, justifying the Buy rating.