H.C. Wainwright analyst Swayampakula Ramakanth assumed coverage on Pluristem Therapeutics Inc. (NASDAQ: PSTI) and issues a Buy rating for the stock with a $3.50 price target.

Ramakanth explains, “Pluristem is developing allogeneic vascular and muscle regeneration therapies based on its proprietary PLX platform. Unlike other cell-based regenerative medicine products, PLX can be used directly off-the-shelf with no additional manipulation by the physician.” 

The analyst also affirms, “Pluristem has reported encouraging earlystage results for all three indications and is pursuing expedited approvals for the treatment of CLI. We expect PLX-PAD to reach the market in 2018 and achieve risk-adjusted sales of $270M by 2026.”

According to TipRanks, Swayampakula Ramakanth is ranked #3,946 of 4,064 analysts.