Analyst Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Daré Bioscience and keeping the price target at $12.00.
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Douglas Tsao has given his Buy rating due to a combination of factors surrounding Daré Bioscience’s strategic positioning and potential for growth. The return of Ovaprene rights from Bayer, while initially appearing as a setback, is seen as an opportunity for Daré to explore new partnerships and strategic transactions without the constraints of the previous agreement. This move allows Daré to focus on pre-commercial activities and business development for Ovaprene, leveraging the fully funded Phase 3 program which is on track for completion in 2026.
Additionally, the valuation of Daré is supported by a risk-adjusted revenue estimate, with Ovaprene’s probability of success considered at 60% following positive interim analysis results. The company’s efforts to launch sildenafil cream through a cash-pay consumer model also suggest potential synergies with Ovaprene, indicating a shift in women’s health towards this model. Despite financial and regulatory risks, the strategic realignment and potential partnerships position Daré favorably, justifying the Buy rating with a price target of $12.
Tsao covers the Healthcare sector, focusing on stocks such as Alkermes, Protagonist Therapeutics, and Hansa Biopharma AB. According to TipRanks, Tsao has an average return of 15.9% and a 51.11% success rate on recommended stocks.