Cantor upgrades Capricor to Overweight, lifts target to $28
Cantor Fitzgerald upgrades Capricor Therapeutics to Overweight from Neutral and raises its price target to $28 from $3.50 after the Q2 call centered on the negative FDA panel vote for deramiocel.
CAPR Cantor Fitzgerald last night upgraded Capricor Therapeutics to Overweight from Neutral with a price target of $28, up from $3.50.
The Q2 earnings call focused on the negative FDA panel vote for deramiocel in Duchenne muscular dystrophy, the analyst tells investors in a research note.
The firm says the "major update" is that Capricor plans to submit an amendment to the application with 24-month open-label extension data from the HOPE-3 study along with additional analyses of the existing package and that the FDA has expressed openness to reviewing this.
These conversations took place after the negative panel vote and could potentially support a refined indication focused on the primary endpoint, contends Cantor.