By Katherine Hamilton
Capricor Therapeutics shares gained after analysts said they believe the company can achieve profitability by 2028.
The stock rose 8.4% to $29.14 and hit its 52-week high of $14.87 earlier in the session. Shares have more than doubled this year.
Oppenheimer analysts Lelan Gershell and Rohan Mathur on Monday raised their price target to $54 from $22. The boost is related to positive results from Capricor's drug candidate deramiocel, which the San Diego biotechnology company reported earlier this month.
Gershell and Mathur believe the Food and Drug Administration will approve deramiocel by mid-2026, based on the results, they said in a note. Deramiocel met the primary endpoint and key secondary cardiac endpoint in a phase 3 trial for treating Duchenne muscular dystrophy.
The analysts also believe Capricor's financing will allow it to achieve profitability by 2028, thanks to the underwritten public offering of 6 million shares that Capricor announced on Friday. Shares will be priced at $25 apiece, Capricor said.
Gershell and Mathur expect Capricor to hit $1.1 billion in U.S. sales by 2031.
"We believe deramiocel's clinical profile stands second to none relative to approved DMD therapeutics," they said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 08, 2025 12:21 ET (17:21 GMT)
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