In a research report released Tuesday, Oppenheimer analyst Christopher Marai maintained an Outperform rating on Cytori Therapeutics Inc (NASDAQ:CYTX) with a $10 price target, following the company’s first-quarter financial results and update on its pipeline. 1Q15 EPS was $0.31 compared to consensus of $0.20.With Cytori shares last trading at $4.18, Marai’s price target implies potential upside of about 139%.
The analyst provided a few insights on the company clinical trial progress, stating, “Positive Phase I aldox combination results in second-line demonstrated activity in chemo-resistant patients. We note this readout bodes well for a P3 trial in second-line-STS, as patients are likely to have demonstrated chemoresistance from prior therapy. This adds to prior-evidence suggesting aldox has efficacy in patients who have progressed following doxorubicin.”
Furthermore, “GBM data expected at ASCO 2015 next catalyst. Recall, that animal models showed accumulation of aldox (but not doxo) in brain tumor tissue suggesting aldox albumin-transport facilitates blood-brain-barrier crossing brain. (details pg 4). GBM remains an area of high unmet need, significant results in this indication could represent upside for CYTR.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Marai has a total average return of 31.0% and a 65.8% success rate. Marai has a -11.9% average return when recommending CYTR, and is ranked #43 out of 3589 analysts.