H.C. Wainwright reiterates Cocrystal Pharma stock rating at buy

H.C. Wainwright has maintained a Buy rating for Cocrystal Pharma, Inc. (NASDAQ: COCP) and has set a price target of $6.00 per share. This target indicates a substantial increase from the current stock price of $1.07. However, analysts suggest the stock may be overvalued according to InvestingPro Fair Value analysis. The price target range among analysts is between $8 and $10, indicating confidence in the company's pipeline despite its relatively small market cap of $20.61 million.

Cocrystal Pharma recently completed a Phase 1b norovirus challenge study for its drug CDI-988 at Emory University School of Medicine. The study, which involved 18-49 year old healthy subjects, aimed to evaluate CDI-988's efficacy as a preventive and treatment for norovirus infections. The study’s primary endpoint is the reduction of clinical symptoms compared to placebo, while secondary endpoints include reduced viral shedding and disease severity, as well as safety and pharmacokinetic profiles.

CDI-988 previously demonstrated safety and tolerability in a Phase 1 clinical trial conducted in Australia. H.C. Wainwright expects favorable data from the norovirus challenge study either before the end of 2026 or early in 2027. Additionally, Cocrystal Pharma appointed Carol L. Brosgart to its board of directors, effective immediately.