In a research report issued Friday, Cantor Fitzgerald analyst Caroline Corner initiated coverage on shares of StemCells Inc (NASDAQ:STEM) with a Buy rating and price target of $2.00, which represents a potential upside of nearly 200% above Friday’s closing price.
Corner wrote, “We think the company is uniquely positioned in front of two attractive markets with no therapeutic options: spinal repair and dry-AMD/ geographic atrophy (GA). These indications result in extremely debilitating quality of life issues (paralysis and blindness) and cost the U.S. healthcare system billions of dollars annually.” Furthermore, “We think StemCells faces large opportunities in two markets that have few competitive players and no approved therapies.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Caroline Corner has a total average return of -19.5% and a 21.4% success rate. Corner is ranked #3529 out of 3607 analysts.