B.Riley Upgrades Capricor Therapeutics (CAPR) to Buy

B.Riley analyst Madison El-Saadi upgraded Capricor Therapeutics (NASDAQ: CAPR) from Neutral to Buy with a price target of $21.00.

The analyst comments "We are upgrading Capricor Therapeutics, Inc. (CAPR) from Neutral to Buy and raising our PT from $5 to $21, as we think the asymmetric setup favors owning shares into the 11/22/26 PDUFA, with potential for an OLE data-driven re-rating before the FDA binary that we think could come as soon as World Muscle Society (WMS) conference on 10/3. We see 50% upside in a positive scenario at WMS, and expect shares to hold near current levels in a negative scenario. We note despite shares up 117% off their post-AdComm 52-wk low, investor pessimism remains high. Our PT applies a 40% approval probability to modeled deramiocel peak sales, reflecting defensible approval odds that could rise post OLE data. An upper-limb approval would, in our view, preserve the >$2B peak revenue opportunity because manufacturing capacity constrains the launch regardless of label breadth."

For an analyst ratings summary and ratings history on Capricor Therapeutics click here. For more ratings news on Capricor Therapeutics click here.

Shares of Capricor Therapeutics closed at $8.37 yesterday.

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