H.C. Wainwright maintains $16 target on CalciMedica stock

On Tuesday, H.C. Wainwright reaffirmed its Buy rating and $16.00 price target for CalciMedica (NASDAQ:CALC), following the company’s announcement of its fourth quarter and full-year 2024 financial results. CalciMedica reported earnings per share (EPS) of ($0.33) for the fourth quarter and ($1.22) for the full year, which stood in contrast to H.C. Wainwright’s estimates of ($0.29) and ($1.16), and consensus estimates of ($0.42) and ($1.44), respectively. Currently trading at $1.91, significantly below its 52-week high of $6.26, InvestingPro analysis suggests the stock may be undervalued, with additional financial insights available to subscribers.

The company’s pro-forma cash balance is approximately $28.4 million, bolstered by the recent debt financing in March 2025. Management believes these funds will support ongoing operations into mid-2026. InvestingPro data reveals the company maintains a strong current ratio of 5.34, with liquid assets exceeding short-term obligations, though it’s worth noting the company is quickly burning through cash. Subscribers can access detailed financial health metrics and 10 exclusive ProTips for deeper analysis. Over the past year, CalciMedica has made significant progress with its lead clinical candidate, Auxora, advancing it through various stages of clinical trials.

For Auxora’s development in treating acute pancreatitis (AP), CalciMedica is preparing for an End of Phase 2 meeting with the FDA in mid-2025. The company also expects to initiate a Phase 3 study in AP by the end of 2025, contingent on securing additional funding. In the field of acute kidney injury (AKI), the Phase 2 KOURAGE trial is actively enrolling participants. This trial targets 150 patients with stage 2 and stage 3 AKI who have acute hypoxemic respiratory failure and are receiving oxygen. Results from the trial are anticipated by the end of 2025.

Additionally, CalciMedica reported a post-hoc analysis of the CARDEA trial, which involved severe COVID-19 pneumonia patients, showing a 62.7% relative reduction in mortality at day 30 for those treated with Auxora, a benefit that persisted through day 60. This analysis supports the potential efficacy of Auxora in reducing mortality and provides a positive outlook for the ongoing KOURAGE study. H.C. Wainwright reiterated its Buy rating and $16 price target, citing these developments as a basis for their continued confidence in the stock. With analyst targets ranging from $13 to $20, and a consensus recommendation of 1.25 (Strong Buy), InvestingPro offers comprehensive valuation metrics and technical analysis tools to help investors make informed decisions.

In other recent news, CalciMedica Inc. has secured a credit facility valued at up to $32.5 million from Avenue Venture Opportunities Fund II, L.P. The initial $10 million tranche has been fully funded, with additional funds contingent on achieving specific milestones. This financial arrangement is intended to support the development of CalciMedica’s product pipeline, particularly their lead candidate, Auxora, which is in clinical trials. Additionally, CalciMedica reported promising results from its CARDEA trial, showing a significant reduction in mortality for acute kidney injury patients treated with Auxora, with a 62.7% relative decrease in mortality at day 30. The company is also advancing its Phase 2 KOURAGE trial for Auxora, with results expected in 2025. In a strategic move, CalciMedica appointed Dr. Alan Glicklich to its Board of Directors, who brings extensive experience in the biotech industry and is expected to enhance the company’s clinical development strategies. The board changes also included the resignation of Eric Bjerkholt, with Dr. Glicklich stepping in as a Class I director. These developments reflect CalciMedica’s ongoing efforts in clinical research and organizational growth.

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