Maxim Weighs in on Biotech Stocks: StemCells Inc (STEM), NovaBay Pharmaceuticals, Inc. (NBY)
Jason Kolbert of Maxim Group rates stocks in the biotechnology sector and he’s ranked #2811 out of 3602 analysts on TipRanks. Yesterday, Kolbert made two news ratings for StemCells Inc (NASDAQ:STEM) and NovaBay Pharmaceuticals, Inc. (NYSEMKT:NBY).
Kolbert maintained a Buy rating on StemCells Inc with a $5.00 price target, as the company presented data at the American Spinal Injury Association (ASIA) meeting yesterday. The analyst noted, “These data leave us encouraged that we may see even more robust results from the larger PII PATHWAY study which is now underway and rapidly enrolling.” Kolbert has rated StemCells Inc 7 times since May 2014, earning a 0% success rate recommending the stock with a -53.3% average return per STEM rating.
The analyst also provided a rating on NovaBay Pharmaceuticals, Inc. yesterday after the biopharmaceutical company released first-quarter earnings. Kolbert maintained a Buy rating on the stock with a $2.00 price target. The analyst noted, “NovaBay reported product revenue of $492k as Avenova starts to build traction. The net loss in the quarter was $4.6M and the company closed the quarter with $5.6M in cash. Based on our own channel checks we believe the launch is building and sales will follow.” Furthermore, “After a history of clinical trials and tribulations that has depressed valuation, we see an opportunity for investors to build positions before sales accelerate and valuation increases.” Kolbert has a -6.2% average return when recommending NBY, according to TipRanks.