H.C. Wainwright Reiterates Buy On Capricor As It Plans To Pursue A Cenderitide Clinical Program
In a research note issued to investors today, analyst Reni Benjamin of H.C. Wainwright reiterated a Buy rating on Capricor Therapeutics (NASDAQ:CAPR) with an $8 price target, as the company announced plans to resume its cenderitide program, in concert with an Investigator-Initiated Research Support Agreement with Insulet Corporation.
Benjamin observed, “We believe advancement of this novel therapy broadens the company’s pipeline and diversifies development risk for investors. With a regenerative medicine platform focused in the cardiac arena, a recent move into the Duchenne’s Muscular Dystrophy space, Janssen Pharmaceuticals as a potential partner (potential opt-in upon positive 6-month results from the Phase 2 portion of the ALLSTAR trial), and a cash position of $11.9 MM, we believe Capricor represents an undervalued player with significant upside for the long-term investor.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Reni Benjamin has a total average return of -10.1% and a 20.4% success rate. Benjamin has an average return when recommending CAPR, and is ranked #3257 out of 3324 analysts.