Maxim’s healthcare analyst Jason Kolbert weighed in today on two names in his coverage universe, Anavex Life Sciences Corp. (NASDAQ:AVXL) and Pluristem Therapeutics Inc. (NASDAQ:PSTI). While Anavex’s ANAVEX 2-73 received orphan designation for infantile spasms, Pluristem released preclinical data in Duchenne muscular dystrophy. Below are the analyst comments along with current ratings and price targets.
Check Kolbert’s historical performance and ranking here.
Anavex Life Sciences Corp.
The analyst reiterated a Buy rating on shares of Anavex Life Sciences, with a price target of $15, after the company announced that its lead drug candidate ANAVEX 2-73, currently in a Phase IIa POC study for Alzheimer’s Disease, has received orphan drug designation for the treatment of Infantile Spasms, a rare seizure disorder.
Kolbert commented, “Anavex continues to expand 2-73 in seizure-related indications, demonstrating the potential utility of 2-73 across multiple neurodegenerative and neurodevelopmental diseases. With orphan designations in Rett Syndrome and Infantile Spasms, 2-73 is moving towards potential clinical programs in addition to the ongoing Phase II study in Alzheimer’s Disease.”
All the 2 analysts polled by TipRanks rate Anavex Life Sciences stock a Buy. With a return potential of 269%, the stock’s consensus target price stands at $15.
Pluristem Therapeutics Inc.
Pluristem shares jumped over 13% today, after the company announced positive preclinical data of PLacental eXpanded (PLXPAD) cells in the treatment of Duchenne muscular dystrophy (DMD), a common neuromuscular disorder.
In reaction, Kolbert was out with a brief note, reiterating a Buy rating on PSTI, with a price target of $3.00, which represents a potential upside of 116% from where the stock is currently trading.
Kolbert noted, “PLX-PAD has already demonstrated POC data in muscle injury. Early animal data showed potential for expanding PLX-PAD utility in Duchenne muscular dystrophy.”
As of this writing, all the 3 analysts polled by TipRanks rate Pluristem stock a Buy. With a return potential of 152%, the stock’s consensus target price stands at $3.50.
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