Investment firm H.C. Wainwright has upgraded its rating for Dogwood (DWTX, Financial) to a Buy, moving from its previous Neutral stance. The firm has set a price target of $10 for the stock.
The decision to upgrade is largely influenced by the anticipated interim results from a Phase 2b study of Dogwood’s leading product, halneuron. This study focuses on evaluating the efficacy of halneuron in treating neuropathic pain induced by chemotherapy.
H.C. Wainwright expresses optimism regarding these upcoming results and believes in the significant market potential for halneuron. This positive outlook has been a key factor in the firm's revised rating for Dogwood.