Capricor Therapeutics Inc (NASDAQ:CAPR) Receives $34.50 Average PT from Brokerages

Capricor Therapeutics Inc (NASDAQ:CAPR) has received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $34.50.

Separately, HC Wainwright reissued a “buy” rating and issued a $77.00 price target on shares of Capricor Therapeutics in a research report on Monday.

Capricor Therapeutics Stock Performance

Shares of CAPR stock opened at $12.88 on Tuesday. The stock’s 50 day simple moving average is $14.14 and its 200 day simple moving average is $14.46. Capricor Therapeutics has a twelve month low of $3.52 and a twelve month high of $23.40. The company has a market capitalization of $585.65 million, a price-to-earnings ratio of -12.15 and a beta of 4.10.

Hedge Funds Weigh In On Capricor Therapeutics

Large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its holdings in Capricor Therapeutics by 25.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,408 shares of the biotechnology company’s stock valued at $1,040,000 after acquiring an additional 13,762 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Capricor Therapeutics in the third quarter valued at $161,000. FMR LLC bought a new position in Capricor Therapeutics in the third quarter worth $370,000. BNP Paribas Financial Markets boosted its stake in Capricor Therapeutics by 868.7% during the third quarter. BNP Paribas Financial Markets now owns 17,699 shares of the biotechnology company’s stock worth $269,000 after buying an additional 15,872 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new stake in Capricor Therapeutics during the third quarter worth $399,000. 21.68% of the stock is currently owned by institutional investors and hedge funds.

About Capricor Therapeutics

Capricor Therapeutics, Inc (NASDAQ:CAPR) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of first-in-class biological therapeutics for the treatment of rare disorders. Capricor’s lead candidate, CAP-1002, is an allogeneic cell therapy that is currently in clinical development for the treatment of Duchenne muscular dystrophy.