Mediwound Received its Third Buy in a Row

By Austin Angelo

After Jefferies and SunTrust Robinson assigned a Buy rating to Mediwound in the last month, the company received another Buy, this time from Oppenheimer. Analyst Jay Olson reiterated a Buy rating on Mediwound (NASDAQ: MDWD) today and set a price target of $10. The company’s shares closed yesterday at $7.20.

Olson commented:

“MDWD yesterday announced that it received a Notice of Intent from the US Biomedical Advanced Research and Development Authority (BARDA) to exercise an option to fund further R&D activities for expanding NexoBrid’s indications. MDWD has an ongoing five-year base contract signed in September 2015 that includes $24 million to support FDA approval of NexoBrid for use in thermal burn injuries and $16 million for procurement of NexoBrid contingent upon approval. The additional funds (undisclosed amount) are earmarked to support FDA approval of NexoBrid and are part of the options for up to $22 million for expanding NexoBrid’s indications. We view this as an excellent source of non-dilutive funding and an external commitment that highlights the value and benefits of NexoBrid.”

According to TipRanks.com, Olson is a 4-star analyst with an average return of 10.2% and a 66.1% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, CymaBay Therapeutics, and Intercept Pharma.

Currently, the analyst consensus on Mediwound is Strong Buy and the average price target is $10.25, representing a 42.4% upside.

In a report issued on June 12, Jefferies also reiterated a Buy rating on the stock with a $10 price target.

The company has a one year high of $8.58 and a one year low of $4.25. Currently, Mediwound has an average volume of 39.78K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MediWound Ltd. is a biopharmaceutical company that engages in the development, manufacture, and commercialize novel products to address unmet needs in the fields of severe burn; chronic and other hard-to-heal wounds; and connective tissue disorders. Its medicinal product, NexoBrid, is used to remove eschar in adults patients with deep partial- and full-thickness thermal burns. The company was founded by Lior Rosenberg and Marian Gorecki on January 27, 2000 and is headquartered in Yavne, Israel.