In a research report sent to investors today, Maxim Group analyst Jason Kolbert maintained a Hold rating on Aastrom Biosciences (NASDAQ:ASTM), following the company’s third-quarter financial results and update on its pipeline. No price target was provided.
Kolbert wrote, “Aastrom will kick up spending on a sales force in the hope that they can grow the product revenues. With its products competing against patient-friendly, “off-the-shelf”-ready (point-ofcare) products and a pipeline of new, cheaper, better products coming in the landscape, we remain skeptical.”
The analyst concluded, “We continue to be cautious on Aastrom, which is attempting to re-launch old products in a landscape that is driving toward faster, cheaper, off-the-shelf products with superior efficacy.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 5.7% and a 39.0% success rate. Kolbert is ranked #648 out of 3372 analysts.