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On Monday, Singular Research adjusted its outlook for biopharmaceutical company CalciMedica (NASDAQ:CALC), raising its price target to $9.50 from $6.25. The company maintained its “Buy Venture” rating on its stock. This adjustment comes on the heels of new funding that is expected to strengthen CalciMedica’s progress in the pipeline’s top priorities.
Analysts at Singular Research highlighted that the additional capital is likely to enhance the company’s ability to effectively meet key pipeline schedules. The funding is expected to give his CalciMedica greater leverage in future partnership negotiations. The analyst said investors’ main focus is on the company’s data readout, which is expected to be completed by the end of the first half of 2024.
With the new funding, Singular Research has increased confidence in management’s ability to execute on CalciMedica’s pipeline. As a result, the company’s forecasts have been adjusted to reflect the cash infusion, higher earnings forecasts, and expectations for lower interest rates.
A statement provided by the analyst outlined the reasons for raising the price target. The additional funding is seen as a positive development that brings some timing certainty to CalciMedica’s most important pipeline projects. This financial boost is expected to be a key factor in the company’s continued progress and ability to meet projected timelines.
Singular Research’s reiterated Buy-Venture rating and new price target of $9.50 represent a significant increase from the previous target and indicate a positive outlook for CalciMedica’s stock performance.
Investment Pro Insights
CalciMedica’s recent funding news is received optimistically by Singular Research, but what does the data show? CalciMedica has a modest market capitalization of $48.22 Million, according to real-time metrics from InvestingPro is. Despite a difficult period where the stock price fell significantly last week and the one-week total return was -21.2%, the company has shown more long-term resilience, with the three-month total return of 29.02% and an even We are proud of Even more impressive is the 6-month total price return of 40.59%. This points to a potential turnaround story that could be interesting to investors.
InvestingPro Tips suggests that CalciMedica’s financial situation is complex. The company has more cash than debt on its balance sheet, which is a good sign of liquidity, but it is burning through cash quickly and has not made a profit in the past 12 months. . This may raise concerns about the long-term financial sustainability of CalciMedica, especially in the absence of dividends, as it does not pay dividends to shareholders.
With its next fiscal year end date set for April 3, 2024, investors will be eagerly awaiting updates on the company’s financial health and progress on its pipeline projects. For those who want to learn more about CalciMedica’s financials and future prospects, InvestingPro provides a more in-depth analysis and additional her InvestingPro Tips. These may be particularly valuable ahead of earnings announcements. To access these insights and more, consider using a coupon code. pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions.
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