CalciMedica (CALC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on March 4. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $16.00 price target.
Joseph Pantginis has given his Buy rating due to a combination of factors, primarily centered around the promising results from CalciMedica’s post-hoc analysis of the Phase 2 CARDEA study. This analysis highlighted significant mortality benefits of Auxora in patients with severe COVID-19 pneumonia and acute kidney injury (AKI), showing a substantial reduction in mortality rates compared to placebo.
The findings from the CARDEA study bolster confidence in the ongoing KOURAGE Phase 2 trial, which targets a similar patient population suffering from AKI with acute hypoxemic respiratory failure. The potential market for Auxora is substantial, with over a million patients, and the drug’s ability to reduce mortality and improve renal function positions it as a significant player in an underserved therapeutic area. Pantginis’s rating reflects the potential for Auxora to capture a significant share of this market, potentially exceeding $10 billion, driven by its clinical benefits.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $20.00 price target.