H.C. Wainwright raised its price target for Capricor Therapeutics (NASDAQ:CAPR) to $12.40 from $3.50 after the company posted positive results from an interim analysis of the HOPE-2 trial in patients with Duchenne muscular dystrophy (DMD).
Shares of Caprior jumped $3.01 to close at $6.23 in hectic turnover on July 15.
DMD is a debilitating genetic disorder characterized by progressive weakness and chronic inflammation of the skeletal, heart, and respiratory muscles.
Analyst Joseph Pantginis writes that six-month data showed that CAP-1002 administration in steroid treated boys and young men (average age 14) resulted in statistically significant changes across several independent clinical measures, including skeletal and respiratory muscle functions (upper limb, the hand and diaphragmatic function).
In addition, although not statistically significant, he said a positive improvement trend was seen among measurements of cardiac function, “suggesting a desirable multilevel efficacy profile.”
