Maxim Maintains Buy On Cytori As The FDA Green-Lights Athena to Move Forward With Cardiovascular Trials

In a research note issued today, Maxim Group analyst Jason Kolbert maintained a Buy rating on Cytori Therapeutics (NASDAQ:CYTX) with a $5 price target, as the company received the green light from the FDA to start back up enrollment in the ATHENA cardiovascular trials. 

Kolbert noted, “We view this as positive; however, we believe Cytori is likely to drive the trial to an interim stopping point, evaluate the totality of its cardiovascular data (combining results with other trials), and determine which signals are evident. Cytori will then face the “go-it-alone” or partner decision.” The analyst added, “Our best guess is that the new management team is committed to the new business directions we reviewed in our prior note (and again below). We believe it will likely look to land a partnership before pursuing the cardiovascular programs. On a side note, we believe that there are multiple alternative programs in which Cytori can prosper–particularly around breast reconstruction associated with lumpectomy (breast cancer surgery). This may hold greater promise and a larger market opportunity in which liposuction and fat grafting is already part of the treatment process.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 4.5% and a 40.2% success rate. Kolbert has a -57.7% average return when recommending CYTX, and is ranked #745 out of 3339 analysts.

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