On Tuesday, Jones Trading maintained its Buy rating and $22.00 stock price target for CalciMedica (NASDAQ:CALC), a biopharmaceutical company. The firm's endorsement follows several days of meetings with investors and the management team of CalciMedica.
The discussions primarily focused on the company's upcoming Phase 2b data for acute pancreatitis expected in late second quarter of 2024 and Phase 2 data for acute kidney injury anticipated in the first half of 2025. The analyst also highlighted the company's CRAC channel inhibitor technology.
CalciMedica, which is considered by Jones Trading as one of its high-conviction stocks for the year 2024, is approaching what the firm believes will be a key inflection point with the release of the Phase 2b acute pancreatitis data. The firm's reiteration of the Buy rating and the $2 stock price target reflects confidence in the company's pipeline and its potential impact on the market.
Moreover, Jones Trading has announced that it will host a key opinion leader (KOL) call featuring Dr. Bechien Wu, MD, a respected gastroenterologist specializing in pancreatology from Kaiser Permanente Los Angeles Medical Center.
The call, scheduled for June 6 at 11 am ET, will address the treatment landscape for acute pancreatitis. This event is expected to provide investors with expert insights into the condition and the potential role of CalciMedica's treatments within this therapeutic area.
The company's focus on CRAC channel inhibitor technology is a significant part of its research and development efforts. CRAC channels are considered critical in various cellular processes, and inhibitors targeting these channels could offer therapeutic benefits for diseases like acute pancreatitis and acute kidney injury.
Investors and stakeholders in CalciMedica are likely to closely monitor the upcoming clinical data releases and the insights from the KOL call in June, as they could influence the company's trajectory and stock performance.
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