Macrocure Earns Outperform Rating from Analysts at Credit Suisse (MCUR)
Credit Suisse assumed coverage on shares of Macrocure (NASDAQ:MCUR) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $15.00 price target on the stock.
The analysts wrote, “MCUR has two phase III trials for its CureXcell in diabetic foot ulcers (DFU) and venous leg ulcers (VLU), with data expected in 2015. CureXcell is a human-blood-derived product that uses activated macrophages to close hard-to-heal wounds. Currently, there are ~2M chronic DFUs & VLUs annually, which implies a $10B opportunity, given our assumed ~$5,000 per patient WW ASP for CureXcell. DFUs and VLUs are only modestly penetrated by existing AWC products due to a lack of clinical data, equivocal efficacy, product administration difficulties, and uneven reimbursement, which suggests a long runway for MCUR if its trials are successful.”
Macrocure (NASDAQ:MCUR) traded up 0.80% on Monday, hitting $9.5864. The stock had a trading volume of 8,697 shares. Macrocure has a one year low of $7.01 and a one year high of $9.60. The stock’s 50-day moving average is $8.24 and its 200-day moving average is $8.24. The company’s market cap is $67.6 million.
Separately, analysts at Jefferies Group initiated coverage on shares of Macrocure in a research note on Monday. They set a “buy” rating and a $14.00 price target on the stock.
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