In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Dogwood Therapeutics (DWTX – Research Report), with a price target of $30.00.
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Jason McCarthy’s rating is based on Dogwood Therapeutics’ promising development of Halneuron, a non-opioid therapeutic targeting chemotherapy-induced neuropathic pain (CINP). The ongoing P2b trial for Halneuron is a significant factor, as it evaluates the drug’s safety and efficacy, with interim data expected in the fourth quarter of 2025. The company’s focus on a novel approach to pain management, particularly in an area with limited non-opioid options, presents a substantial opportunity for growth.
Additionally, Dogwood’s financial position, with $17.5 million in cash, is expected to support the company through key upcoming milestones, including the interim data release. The valuation model incorporates potential revenue from Halneuron by 2030 and considers the risks associated with clinical trials. A 30% discount rate is applied to various financial models, leading to a 12-month price target of $30, supporting the Buy rating.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $10.00 price target.