H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Collplant Holdings yesterday and set a price target of $11.00.
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Swayampakula Ramakanth’s rating is based on several promising developments at Collplant Holdings. The company has shown progress in its collaboration with AbbVie, particularly in the clinical program involving dermal and soft tissue fillers. The continued purchase of clinical materials by AbbVie suggests positive momentum, even though specific clinical data has not yet been released. Additionally, Collplant is advancing its preclinical program for a 3D printed breast implant product, with plans to initiate a clinical program in the coming years and potential partnerships in the works.
Financially, while Collplant’s recent revenue figures fell short of expectations, the company has a solid cash position that should support its operations in the near term. The valuation of Collplant’s stock is supported by a risk-adjusted net present value analysis, which considers projected product revenues through 2030. This analysis, combined with the company’s cash reserves, underpins the 12-month price target of $11 per share, justifying the Buy rating despite existing risks related to commercialization, partnerships, regulatory hurdles, and financial performance.
According to TipRanks, Ramakanth is a 5-star analyst with an average return of 11.4% and a 38.61% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Unicycive Therapeutics, Corcept Therapeutics, and Precigen.