Oppenheimer Sticks to Its Buy Rating for Mediwound (MDWD)

Oppenheimer analyst Jay Olson maintained a Buy rating on Mediwound (MDWD) today and set a price target of $15. The company’s shares opened today at $4.80.

Olson said:

“We spoke to management about leadership transition and believe the company is well positioned for 2019. We understand that Gal Cohen made the decision to resign on his own. He’s been at MDWD for >12 years and plans to pursue other opportumnities. Mr. Cohen indicates MDWD has achieved all of his key goals. The DETECT study is complete and met all endpoints while NexoBrid is still on track for BLA submission in 2H19. The previously disclosed strategic process is still ongoing, led by Steve Wills who will becomes active chairman, and he indicates the strategic process is progressing toward completion likely by year-end. We view Sharon Malka as well qualified to become CEO, having served 12 years at MDWD as CFO and COO.”

According to TipRanks.com, Olson has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.9% and a 39.9% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.

Currently, the analyst consensus on Mediwound is a Moderate Buy with an average price target of $15, which is a 212.5% upside from current levels. In a report released today, SunTrust Robinson also reiterated a Buy rating on the stock with a $9 price target.

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Based on Mediwound’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.94 million. In comparison, last year the company had a GAAP net loss of $2.37 million.

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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.