In a report released yesterday, Jay Olson from Oppenheimer maintained a Buy rating on Mediwound (MDWD), with a price target of $14. The company’s shares closed yesterday at $5.61.
Olson said:
“MDWD announced 3Q18 financial results and business update with significant progress in key areas. GAAP EPS of $(0.11) was better than our $(0.19) estimate and $(0.20) consensus driven by $0.9M of NexoBrid revenues and lower than expected spending. MDWD appears sufficiently funded ($25.7M cash at Sept. 30th and $13-14M expected 2018 OpEx, which is lower than $14-16M prior guidance) for EscharEx development while NexoBrid development is fully funded by BARDA. NexoBrid will launch in Russia in 1H19. MDWD completed enrollment in the Ph3 NexoBrid DETECT study for eschar removal in mid-2018 with topline data in Jan. representing a significant catalyst, in our opinion. We expect MDWD to file a BLA for NexoBrid in 2H19. Strategic discussions are progressing.”
According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.1% and a 31.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Mediwound is a Moderate Buy with an average price target of $12.50.
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The company has a one-year high of $7.35 and a one-year low of $3.56. Currently, Mediwound has an average volume of 26.51K.
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MediWound Ltd. is a biopharmaceutical company, which engages in the development, manufacture, and commercialization of novel products to address needs in the fields of severe burn; chronic and other hard-to-heal wounds; and connective tissue disorders.
