Maxim Maintains Buy on Cytori Therapeutics Inc Following Completion of Enrollment in Phase IIb Study of ECCO-50
Cytori Therapeutics Inc (NASDAQ:CYTX) has been maintained as a Buy at Maxim Group by research analyst Jason Kolbert in a recent report released today. The analyst maintained a price target of $7.00 per share, representing a huge upside of 937% from today’s closing price of $0.66.
The report follows the news that enrollment has been completed in the company’s US Phase IIb Osteoarthritis trial. The ACT-OA trial is a double-blind randomized, placebocontrolled trial evaluating the safety, feasibility and dosing of intraarticular administration of Cytori’s ECCO-50 cellular therapeutic in patients with knee osteoarthritis.
Kolbert noted, “We welcome Cytori’s drive to become a pivotal company as they work to commercialize their first cell therapy. Cytori now expects to have six month follow up data for review in 1Q 2016 which should then lead to a pivotal trial.”
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 2.7% and a 42.0% success rate. Kolbert has a 4.5% average return when recommending CYTX, and is ranked #1223 out of 3624 analysts.
Out of the 4 analysts polled by TipRanks, 3 rate Cytori Therapeutics stock a Buy, whereas only one rated it a Hold. With a return potential of 640.6%, the stock’s consensus target price stands at $5.