In a report released yesterday, Kumaraguru Raja from Brookline Capital Markets maintained a Buy rating on Histogenics (HSGX), with a price target of $1.50. The company’s shares closed yesterday at $0.48, close to its 52-week low of $0.45.
Raja commented:
“Histogenics has reported its financial and operating results from 3Q18, highlighting its continued efforts to discuss the path forward with the Administration (FDA) for a Biologics License Application (BLA) submission seeking approval of NeoCart, its cartilage replacement product for cartilage lesions in the knee. We remain optimistic of pathway for approval based on available NeoCart data. We maintain Buy rating with Target Price to $1.50.”
According to TipRanks.com, Raja is a 1-star analyst with an average return of -4.9% and a 42.9% success rate. Raja covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Corbus Pharmaceuticals, and Acer Therapeutics Inc.
Histogenics has an analyst consensus of Strong Buy, with a price target consensus of $2.07, which is a 335.1% upside from current levels. In a report issued on November 9, H.C. Wainwright also reiterated a Buy rating on the stock with a $1.20 price target.
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Based on Histogenics’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $10.79 million. In comparison, last year the company had a GAAP net loss of $6 million.
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Histogenics Corp. engages in the development, marketing, and commercialization of musculoskeletal medicine. Its regenerative medicine platform combines expertise in cell processing, scaffolding, tissue engineering, bioadhesives, and growth factors to provide solutions that can be utilized individually and in concert to treat musculoskeletal-related conditions. The company was founded on June 28, 2000 and is headquartered in Waltham, MA.
