Alliance Global Partners lowered the firm’s price target on Capricor Therapeutics (CAPR) to $16 from $20 and keeps a Buy rating on the shares after the company received a complete response letter from the FDA for deramiocel. The firm believes changes in the FDA administration most likely unfavorably impacted the company’s application filing. However, Capricor’s HOPE-3 trial results announcement in Q3 “may change FDA’s outlook for the better,” the analyst tells investors in a research note.
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