Capricor Therapeutics price target raised to $45 from $20 at Piper Sandler

Piper Sandler raised the firm’s price target on Capricor Therapeutics (CAPR) to $45 from $20 and keeps an Overweight rating on the shares. The firm notes last Wednesday, the Phase III HOPE-3 trial met the primary endpoint showing a significant 1.2 point absolute difference from placebo in the Performance of the Upper Limb 2.0. Deramiocel also met the key cardiac endpoint showing an absolute 2.4% improvement in LVEF, representing a 91% slowing of decline vs. placebo. Capricor will submit HOPE-3 data as a response to the FDA’s CRL under the current BLA for deramiocel in DMD cardiomyopathy by year-end 2025. Piper anticipates a Type II 6-month review resulting in potential deramiocel approval by mid-2026.