Cocrystal Pharma: A Strong Buy on Innovative Antiviral Pipeline and Market Potential

Ram Selvaraju, an analyst from H.C. Wainwright, reiterated the Buy rating on Cocrystal Pharma (COCP – Research Report). The associated price target remains the same with $10.00.

Ram Selvaraju has given his Buy rating due to a combination of factors including the anticipated clinical data catalysts from Cocrystal Pharma’s pipeline and the substantial market opportunity for influenza treatment. Cocrystal is expected to release top-line data from a Phase 2a influenza A study and a Phase 1 study for an oral antiviral candidate, which could be the first of its kind to target both coronavirus and norovirus. Additionally, the company plans to initiate a Phase 1 trial for an inhaled influenza treatment. Positive outcomes from these trials could significantly advance the company’s clinical development program and lead to a late-stage clinical development program for another candidate in the second half of 2024.
Moreover, Selvaraju emphasizes the large market potential for influenza treatments, citing the significant number of annual cases and the economic burden of the disease. He also notes that current treatments are facing resistance, which underscores the necessity for new antiviral medications. Financially, Cocrystal Pharma reported a narrower net loss per share for the first quarter of 2024 than anticipated, and the company’s cash reserves are expected to fund operations well into the first half of 2025. The valuation uses a discounted cash flow approach with reasonable probabilities of approval for the company’s candidates, leading to a favorable price target. Despite the risks associated with drug development and potential dilution, the analyst maintains a positive outlook on the stock’s future performance.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Cocrystal Pharma (COCP) Company Description:

Cocrystal Pharma, Inc. is a biotechnology company, which engages in the discovery and development of novel antiviral therapeutics. It focuses on the preclinical and early clinical stage antiviral compounds for unmet medical needs including influenza, Hepatitis C virus, and norovirus infections. The company was founded on January 2, 2014 and is headquartered in Bothell, WA.