Analyst Maintains Buy Rating for Humacyte but Trims Price Target

Humacyte US44486Q1031

A recent research note from investment bank Benchmark has adjusted the valuation for biotechnology firm Humacyte. The firm's "Buy" recommendation stands firm, but its price target has been revised downward from $11 to $10 per share. This adjustment comes during a period of notable weakness for the company's stock.

The financial outlook for Humacyte underscores its current phase of significant investment and development. For the present fiscal year, the anticipated earnings per share (EPS) is a loss of approximately -$1.27. Looking ahead to 2026, the consensus estimate from nine analysts points to a net loss of around -$86.3 million, alongside expected revenue of roughly $1.57 million. This projected revenue increase of 480.6% would vastly outpace average industry growth.

The company's ownership structure is predominantly retail, with individual investors holding a 59% stake. Institutional investors account for 24%, and public companies hold 9.5%. The next critical valuation catalyst is expected to be the planned submission of a Biologics License Application (BLA) for the dialysis indication in the latter half of 2026.

Operational Progress and Key Catalysts

Several near and medium-term developments are central to Humacyte's investment thesis:
* The commercial launch of Symvess commenced in late February 2025.
* A key recruitment milestone has been achieved in the Phase 3 V012 study for its ATEV product in dialysis. Submission of a supplemental BLA is scheduled for the second half of 2026.
* The company is preparing to file an Investigational New Drug (IND) application for a small-caliber ATEV designed for bypass surgeries.
* Intellectual property was strengthened in January 2025 with the grant of a U.S. patent covering core aspects of its bioproduction platform, providing protection until 2040.

Market Performance and Analyst Sentiment

Humacyte's shares have recently faced selling pressure. During the last trading session, the equity declined by 8.1%, closing at a price of $1.02. The stock has finished lower in five of the past ten trading days, resulting in an aggregate loss of 3.8% over that span. The company's current market capitalization is approximately $194 million.

Despite Benchmark's tempered target, the broader analyst community retains a bullish stance. The consensus rating, derived from six to eight covering analysts, sits between "Strong Buy" and "Moderate Buy." The average price targets among analysts range from $8.29 to $10.50, suggesting substantial potential upside from current trading levels. Individual price targets vary widely from $3 to $25, reflecting divergent views on the company's long-term potential.