Oppenheimer Thinks Mediwound’s Stock is Going to Recover

By Jason Carr

Oppenheimer analyst Jay Olson reiterated a Buy rating on Mediwound (NASDAQ: MDWD) today and set a price target of $10. The company’s shares opened today at $4.65, close to its 52-week low of $4.25.

Olson commented:

“MDWD announced positive Phase 2 results for EscharEx in a study examining debridement of damaged tissue in chronic wounds. This study compared EscharEx to hydrogel treatment in 73 patients with (1) diabetic foot ulcers (DFUs), (2) venous legs ulcers (VLUs) and (3) post-surgical or traumatic hard-to-heal wounds. EscharEx achieved the primary endpoint of complete wound debridement (non-viable tissue removal) at the end of the debridement period (up to 10 days) across the 3 groups of patients vs. control (55% vs 29%, p=0.047). Sub-group analyses showed that 50% of DFU patients treated with EscharEx achieved complete debridement compared to 14% of control patients, and 63% of VLU patients treated with EscharEx achieved complete debridement vs. 20% for the hydrogel control patients.”

According to TipRanks.com, Olson is a 1-star analyst with an average return of -1.0% and a 30.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Intercept Pharma, and Axovant Sciences.

Mediwound has an analyst consensus of Strong Buy, with a price target consensus of $13.

Based on Mediwound’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $518K and GAAP net loss of $5.71 million. In comparison, last year the company earned revenue of $267K and had a GAAP net loss of $7.78 million.

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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.