MLV Maintains Buy on Pluristem Therapeutics Inc. as PLX-R18 Strategy Advancing in 2015

In a research report published Tuesday, MLV analyst Vernon Bernardino maintained a Buy rating on Pluristem Therapeutics Inc. (NASDAQ:PSTI) with a price target of $6.00, which represents a potential upside of 113% from where the stock is currently trading.

The report comes after the company recently announced positive data from three independent preclinical studies with PLX-R18 cells.

Bernardino noted, "Although limited data is available, PLX-R18 has shown early promise in application in a wide variety of hematological indications. As a result, Pluristem anticipates applying for regulatory approval to advance PLX-R18 into clinical trials in select indications this year. We believe the most promising indications are improving engraftment during hematopoietic stem cell transplantation (HSCT) and treating immune-related damage to bone marrow, which our research shows together have market potential worth $1-$2BN, and are not in our models."

Bottom line, "As the broad potential of PLX cells has yet to be explored, we believe the stock undervalued. With the initiation of multiple value-creating clinical studies with PLX cells anticipated in 2015, we would be buyers of PSTI. Therefore, we reiterate our Buy rating."

According to, which measures analysts' and bloggers' success rate based on how their calls perform, analyst Vernon Bernardino has a total average return of -11.4% and a 34.7% success rate. Bernardino has a average return when recommending PSTI, and is ranked #3502 out of 3568 analysts.


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