HSTO - Histogen shares rise as Canaccord Genuity initiates with a buy rating

Canaccord Genuity analyst John Newman has initiated shares of nanocap stock Histogen Inc. (HSTO) with a buy rating and $5 price target.Histogen's pipeline is geared towards aesthetic and therapeutic markets, focusing on hair growth, dermal fillers, and joint cartilage.Newman notes that phase 1 trials are slated to commence this quarter for HST 003 for joint cartilage with top-line results expected in 2022 Q1, and in the second half of the year for HST 001 for hair growth."The hair-growth market currently has yet to see a highly effective therapeutic for serious hair loss, with many patients often going for surgical procedures," Newman writes. "We believe this bridge between surgical procedures to effective therapeutic could provide a huge upside for HSTO."If approved, Newman says that HST 002 would be "the only [dermal] filler providing all-human and naturally produced collagen with dermal matrix proteins, which could provide long-lasting effects."He sees potential peak sales

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Histogen shares rise as Canaccord Genuity initiates with a buy rating