Michael Okunewitch, an analyst from Maxim Group, maintained the Buy rating on FibroBiologics, Inc.. The associated price target is $4.00.
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Michael Okunewitch has given his Buy rating due to a combination of factors, primarily focusing on FibroBiologics, Inc.’s innovative pipeline and promising preclinical results. The company is advancing its Phase 1/2 study for diabetic foot ulcers and completing IND enabling studies for psoriasis, showcasing its commitment to developing treatments for significant medical needs.
Additionally, FibroBiologics’ Bone Marrow Organoid platform has shown potential in reducing tumor size in preclinical models and offers applications in cancer treatment and immune decline. The platform’s ability for ex-vivo gene editing and cryopreservation further enhances its therapeutic potential. Moreover, the company’s focus on chronic wound care, particularly with its CYWC628 candidate, demonstrates accelerated and high-quality wound healing, indicating a strong market opportunity. These factors collectively support the Buy rating, reflecting confidence in the company’s future growth and innovation potential.
Okunewitch covers the Healthcare sector, focusing on stocks such as Lineage Therap, Ocugen, and ATAI Life Sciences. According to TipRanks, Okunewitch has an average return of -7.6% and a 35.93% success rate on recommended stocks.
In another report released on September 17, H.C. Wainwright also maintained a Buy rating on the stock with a $10.00 price target.