Capricor Therapeutics price target lowered to $22 from $30 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Capricor Therapeutics (CAPR) to $22 from $30 and keeps an Overweight rating on the shares. The firm views the complete response letter for deramiocel as a “disappointing setback.” However, the “binary nature” of the upcoming HOPE-3 data makes Capricor’s risk/reward “quite interesting,” the analyst tells investors in a research note. Cantor believes that if the HOPE-3 study is successful, the “argument for approval can grow substantially.”