Capricor price target raised to $12.40 from $3.50 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis raised his price target for Capricor Therapeutics to $12.40 from $3.50 saying the company announced positive results from the pre-specified interim analysis of the Hope-2 trial in patients with Duchenne muscular dystrophy. The stock in midday trading is up 155%, or $4.98, to $8.20. Six-month data showed that CAP-1002 administration in steroid treated boys and young men resulted in statistically significant changes across several independent clinical measures including skeletal, and respiratory muscle functions, Pantginis tells investors in a research note. The analyst views the data "promising" for both primary and secondary endpoints. He reiterates a Buy rating on Capricor Therapeutics.