Cantor Fitzgerald analyst Caroline Corner weighed in with her opinions on StemCells Inc (NASDAQ:STEM) ahead of Geographic Atrophy data that is supposed to be presented sometime this week. Corner reiterated a Buy rating on the stock with a price target of $2, which implies an upside of 185.7% from current levels.
Corner commented, “We anticipate that data will be presented this week at the International Society for Stem Cell Research (ISSCR) in Stockholm from StemCells’s Phase I/II clinical trial in dry age-related macular degeneration (dryAMD)/ Geographic Atrophy (GA). Based on interim data we expect positive results, which we believe should increase confidence regarding a positive outcome for the company’s Phase III GA trial, Radiant.”
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 -5.7% and a 55.6% success rate. Corner has a 3.0% average return when recommending STEM, and is ranked #3228 out of 3638 analysts.
The three analysts polled by Tipranks rate StemCells a Buy. With a return potential of 281.43%, the stock’s consensus target price stands at $2.67.