H.C. Wainwright Sees Over 400% Upside For BioCardia Stock

H.C. Wainwright has initiated coverage of BioCardia Inc BCDA with a Buy rating and a $9 price target, suggesting a 414% upside. 

• Analyst Emanuela Branchetti sees CardiAMP "as an underestimated platform now in the pivotal stage." 
• BioCardia's CardiAMP Cell Therapy System is designed to provide two autologous bone marrow-derived cell therapies, BCDA-01 and BCDA-02, currently in two pivotal trials targeting heart failure post-myocardial infarction and patients with no option chronic myocardial ischemia with refractory angina.
• Last week, BioCardia entered into a long-term lease for a new facility in Sunnyvale, California, to provide manufacturing capabilities across its portfolio, including its CardiAMP Cell therapy, NK1R+ mesenchymal stem cells, and biotherapeutic delivery devices.
• In October, BioCardia treated the first patient in its Phase 3 trial of CardiAMP cell therapy for chronic myocardial ischemia. The trial is expected to enroll up to 343 patients.
• Price Action: BCDA shares are up 19.4% at $2.09 during the premarket session on the last check Monday.