Lipella Pharmaceuticals, Inc. (LIPO – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $10.00 price target.
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Jason McCarthy has given his Buy rating due to a combination of factors surrounding Lipella Pharmaceuticals, Inc. The recent FDA approval for an expanded access program for LP-310, a promising oral rinse formulation aimed at treating oral lichen planus (OLP), marks a significant milestone for the company. This development is noteworthy as there are currently no approved drugs for OLP, a condition that severely impacts the quality of life for those affected. The positive safety data from the initial cohort in the ongoing Phase 2a study further supports the potential of LP-310, as the study progresses to evaluate higher doses.
Additionally, the recent successful private placement, which raised $875.5K, provides Lipella with essential funding to continue its development programs. However, the company will still need to secure additional capital to sustain its operations and research initiatives. The combination of clinical progress and strategic financial moves forms the basis for Jason McCarthy’s optimistic outlook, warranting a Buy recommendation for Lipella’s stock.
McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Alterity Therapeutics, and Mesoblast. According to TipRanks, McCarthy has an average return of -13.3% and a 31.11% success rate on recommended stocks.