H.C. Wainwright Starts Histogenics Corp. (HSGX) at Buy

December 19, 2016 7:17 AM EST
Get Alerts HSGX Hot Sheet
Price: $0.16 --0%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 35
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H.C. Wainwright initiates coverage on Histogenics Corp. (NASDAQ: HSGX) with a Buy rating and a price target of $3.50.

Analyst Swayampakula Ramakanth commented, "Histogenics is a clinical-stage biotechnology company developing novel regenerative therapies to address muscular-skeletal conditions. The company’s lead product, NeoCart, is an autologous, live-cell synthetic tissue implant manufactured from a patient’s own bone cells and is used to repair cartilage defects in the knee. For decades, the standard of care for knee cartilage restoration has been microfracture surgery, which tends to take very long to heal (up to 2 years or more) and have inconsistent results. NeoCart, on the other hand, could help alleviate pain and restore function in 3-12 months and is manufactured to precise specifications for each patient. The company is currently conducting a registration-directed Phase 3 study evaluating the use of NeoCart versus microfracture as first-line treatment for knee cartilage injury, with top line results expected in 2018. We believe that NeoCart could become a first-in-class treatment with a $3B dollar market opportunity in the US alone. We expect NeoCart to reach the market in the US in 2019 and achieve risk-adjusted revenues of $144M by 2027."

For an analyst ratings summary and ratings history on Histogenics Corp. click here. For more ratings news on Histogenics Corp. click here.

Shares of Histogenics Corp. closed at $1.58 yesterday.

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