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Investing.com - Cantor Fitzgerald maintained its Overweight rating and $30.00 price target on Capricor Therapeutics (NASDAQ:CAPR) on Monday. The research firm reaffirmed its positive outlook for the biotechnology company amid recent developments regarding the regulatory review process. Track real-time analyst ratings and access comprehensive company analysis with InvestingPro.
The firm noted that Capricor management had addressed recent headlines concerning staffing changes at the Food and Drug Administration. According to Cantor Fitzgerald, Capricor does not believe that Dr. Verdun was placed on administrative leave specifically in relation to the company’s regulatory review.
Capricor management suggested to the research firm that the FDA would be unlikely to take such a drastic step, as Dr. Prasad could simply overrule a decision. This clarification comes amid market speculation about potential impacts on the company’s regulatory pathway.
As of Friday afternoon, Capricor informed Cantor Fitzgerald that the company had received notification from the FDA that the agency does not currently see the need for an advisory committee meeting. This development represents a potential streamlining of the review process.
The maintained $30.00 price target represents significant upside potential from current trading levels for the clinical-stage biotechnology company, which is developing novel therapeutics for the treatment of diseases. Discover detailed valuation metrics and growth potential indicators with InvestingPro.
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