In a research report released Tuesday, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on shares of Neuralstem, Inc. (NASDAQ:CUR) with a price target of $1.20, after the stem cell therapy company disclosed that it has reached over 50% enrollment in its Phase 2 clinical trial evaluating NSI-189, a novel neurogenic small molecule, for the treatment of major depressive disorder. Neuralstem shares are currently trading at $0.302 down $0.008 or 2.58%.
Pantginis noted, “We believe that the timely achievement of 50% study enrollment in the Phase IIb trial highlights the efforts that CUR and management are making to keep the company focused on its lead compound, NSI-189. Importantly, the present enrollment rate keeps the target time for data release in 2H17. According to our projections, the additional funding from the September raise gives CUR ~1.5 years of runway.”
As usual, we like to include the analyst’s trackrecord when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a yearly average return of 7% and a 38% success rate. Pantginis has a 17.4% average return when recommending CUR, and is ranked #356 out of 4172 analysts.
In addition to Roth Capital, Brean Capital analyst Jonathan Aschoff rates CUR a Buy, with a $4.00 price target.