Maxim Maintains Buy On Pluristem Following R&D Events; Sees Significant Upside
In a research report published today, Maxim Group analyst Jason Kolbert maintained a Buy rating on Pluristem Therapeutics (PSTI) with a $8 price target, which represents a potential upside of 176% from where the stock is currently trading.
Kolbert noted, “Pluristem hosted a Key Opinion Leaders conference and presented important preclinical data regarding the feasibility of using their PLX-PAD cells as a therapeutic for preeclampsia. Dr. Baha Sibai, a leading expert in the management of preeclampsia, presented data showing that preeclamptic pregnant mice treated with PLX-PAD had systolic blood pressure reduced to near normal levels that were seen in control groups (p<0.05). Placental vascular injury associated with preeclampsia was remarkably reduced, and aortic relaxation from phenylephedrine contraction following endothelial-dependent dilator acetylcholine administration was significantly improved over controls (p<0.05)”.
The analyst continued,”With approximately $64M in cash and a modest burn rate (approx. $25M per year), Pluristem has operating capital. Pluristem is currently conducting multiple phase I and II trials across cardiovascular, orthopedic, and pulmonary indications. The company has reported positive phase II data in muscle injury (Germany, 1H2014) and is expecting South Korean FDA approval of a phase II/III CLI study, and US FDA and/or Israeli approval of a phase II study for rotator cuff repair, both by 2H2014″.
According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Jason Kolbert has a 9% average return and a 54% success rate. Kolbert has a -14.5% average return when recommending PSTI, and is ranked #488 out of 3222 analysts.