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On Friday, Benchmark analyst Bruce D. Jackson reaffirmed a Buy rating and a $17.00 price target for Humacyte (NASDAQ:HUMA), representing significant upside potential from the current price of $3.01. The stock, which has declined about 43% over the past six months, is currently trading near its 52-week low. Jackson highlighted a recent Key Opinion Leader (KOL) event where vascular surgeons discussed a new retrospective comparison study of Humacyte’s Symvess ATEV. According to InvestingPro data, analyst targets for the stock range from $6 to $25. The study compared Symvess ATEV to autologous vein grafts in treating extremity arterial injuries, using data from the PROOVIT registry. Although not a direct comparison, the study’s findings suggested that Symvess could provide similar outcomes to autologous vein grafts at 30 days. This could indicate potential for Symvess to replace autologous vein grafts, which currently hold about 74% of the market.
The KOL surgeons expressed optimism about the adoption of Symvess, which might be boosted if Humacyte receives the New Technology Add-on Payment (NTAP) designation from October 2025. With a market capitalization of $388 million, Humacyte faces some financial challenges, as indicated by its WEAK Financial Health score on InvestingPro. Jackson also mentioned Humacyte’s new research partnership with Trestle Bio, a private company working on bioengineered kidney tissues for patients with end-stage renal disease (ESRD). The collaboration aims to explore the combined potential of their technologies in creating vascularized organs for transplantation.
Humacyte’s early launch activities are reportedly progressing well, with the number of hospitals starting the Value Analysis Committee (VAC) process increasing to 26 from 21 the previous week. Additionally, the publication of a budget impact model in the Journal of Medical (TASE:BLWV) Economics is expected to aid in the company’s sales efforts. Investors should note that Humacyte’s next earnings report is scheduled for March 21, 2025. For deeper insights into Humacyte’s financial health and growth prospects, including additional ProTips and comprehensive analysis, check out the detailed Research Report available on InvestingPro.
In other recent news, Humacyte, Inc. has announced significant developments regarding its bioengineered human tissue product, Symvess. The U.S. Food and Drug Administration (FDA) has granted full approval for Symvess, allowing its commercial launch as a vascular conduit for adults needing urgent revascularization when an autologous vein graft is not feasible. Following the approval, Humacyte began receiving requests from hospitals for Symvess, with some institutions already completing the purchase approval process. The company has also secured a new U.S. patent for its bioreactor manufacturing system, extending its protection until 2040. This patent is crucial for the production of Symvess and other bioengineered human tissues. Benchmark has raised Humacyte’s price target to $17.00, maintaining a Buy rating, citing the FDA approval as a key factor in mitigating regulatory risks. Additionally, Humacyte has expanded its collaboration with Pluristyx to develop the BioVascular Pancreas (BVP) for diabetes treatment. The company is also planning to file an Investigational New Drug application for a small-diameter vessel intended for coronary artery bypass grafting.
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