UPDATE: Wells Fargo Starts MediWound Ltd (MDWD) at Outperform
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(Updated - August 17, 2016 7:45 AM EDT)
Wells Fargo initiated coverage on MediWound Ltd (NASDAQ: MDWD) with an Outperform rating and a price target of $13-$15. Analyst David Maris highlighted the company's potentially game-changing treatment of burn and wound care.
"We believe MediWound represents a compelling investment opportunity as its products, we believe, have the potential to revolutionize the treatment of burns and chronic wounds if approved," said Maris.
"We believe 1H17 will be pivotal for MediWound, with the shift of its chronic wounds treatment EscharEx into Phase III by year-end 2016 and top-line results expected from the NexoBrid U.S. Phase III in 1H17. NexoBrid is approved for the treatment of burns in Europe, where its launch has been off to a slow start as MediWound works to educate physicians about the paradigm-shifting treatment," added the analyst.
Shares of MediWound Ltd closed at $6.37 yesterday.
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Related EntitiesWells Fargo, David Maris
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