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Enrollment Target Met: First Wave BioPharma; Clarivate and Crane NXT Garner Positive Ratings

  • June 13th, 2023
  • 250 views

First Wave BioPharma, Inc. (Nasdaq: FWBI) has successfully reached its enrollment target in the Phase 2 SPAN clinical trial for its enhanced enteric microgranule delivery formulation of adrulipase. This trial aims to evaluate the treatment's effectiveness in addressing exocrine pancreatic insufficiency (EPI) in cystic fibrosis (CF) patients.

The primary efficacy endpoint is the coefficient of fat absorption (CFA), while secondary endpoints include stool weight, signs and symptoms of malabsorption, and coefficient of nitrogen absorption (CNA). By mid-2023, the company expects to release the topline results of the study. 

Following this announcement, $FWBI is trading at $2.40, reflecting a significant increase of $1.26 or 110.52% in pre-market.

Clarivate Plc (NYSE: CLVT), a global leader in providing trusted insights and analytics to accelerate the pace of innovation, has been initiated with an Outperform rating and a price target of $11 by Oppenheimer.

With $CLVT closing at $8.28 on Monday, this price target suggests a potential upside of $2.72 or 32.85%, as per Oppenheimer's view.

Crane NXT, Co. (NYSE: CXT), a company specializing in providing advanced technology solutions for the construction industry, has also been initiated with an Outperform rating by Oppenheimer, with a price target of $70.

Based on Monday's closing price of $55.78, the price target implies a potential upside of $14.22 or 25.49% for $CXT, according to Oppenheimer's analysis.

These potential upsides reflect the projections made by brokerage firm Oppenheimer, taking into account various factors and market conditions. However, it is important for investors to exercise caution and conduct their own thorough analysis before making any investment decisions.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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