Capricor Therapeutics (CAPR) Receives Outperform Rating from Oppenheimer with $15 Price Target
Oppenheimer has maintained an Outperform rating on Capricor Therapeutics (NASDAQ:CAPR) with a steady price target of $15.00. The firm's positive stance comes ahead of Capricor's anticipated regulatory update on deramiocel for Duchenne muscular dystrophy (DMD), following recent interactions with the FDA and a pre-Biologics License Application (BLA) meeting.
Capricor hinted at the possibility of an accelerated approval pathway for deramiocel in the United States during their quarterly update call last month. This pathway could be based on the data from Phase 2 and extension studies previously reported. The update, expected tomorrow, is likely to affirm this potential, enhancing the outlook for the drug's registration.
The optimism is further bolstered by Capricor's expanded partnership with Nippon Shinyaku, now encompassing the U.S., EU, and Japan, which was announced last week. Moreover, the potential cardioprotective benefits of deramiocel may be acknowledged in the drug's labeled indication, taking into account the shown advantages in this area.
InvestingPro Insights: Capricor Therapeutics (NASDAQ:CAPR) holds a market capitalization of approximately $186.94 million. Despite significant revenue growth of 187.15% over the last twelve months as of Q2 2024, the company's gross profit margin remains negative at -37.73%, indicating challenges in maintaining profitability. It is noteworthy that the stock has experienced a significant return over the last week, with a 14.51% price total return.
Analysis:
- Capricor Therapeutics (CAPR) has received a positive rating from Oppenheimer.
- The company is expecting a regulatory update on deramiocel for DMD, which could lead to an accelerated approval pathway.
- Capricor's expanded partnership with Nippon Shinyaku and potential cardioprotective benefits of deramiocel are seen as favorable factors.
- Despite challenges in maintaining profitability, the stock has shown a significant return over the last week.
- Investors and analysts are closely monitoring Capricor's financial health and stock performance for potential opportunities.