Neuralstem Shares Are Currently Fairly Valued, Says H.C. Wainwright
In a research report sent to investors today, H.C. Wainwright analyst Reni Benjamin maintained a Neutral rating on Neuralstem (NYSE:CUR), as the company announced that the first of four chronic Spinal Cord Injury (cSCI) patients in its Phase 1 trial of NSI-566 was recently treated at the UCSD School of Medicine. No price target was provided.
Benjamin wrote, “The small trial is primarily being conducted to ensure that the excellent safety profile seen with the NSI-566 cell therapy in Amyotrophic Lateral Sclerosis (ALS) patients is recapitulated in cSCI patients, given the differences between spinal tissue microenvironments of cSCI and ALS patients. We view the forward progress of the trial as welcome news for investors—it marks a foray into an indication area with a potentially addressable patient population nearly ten times that of ALS. Although the company has a multipronged portfolio designed to target unmet medical needs and a cash position of $27 MM (pro forma) that we expect to last until mid-2016, we believe Neuralstem shares are currently fairly valued.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Reni Benjamin has a total average return of -10.1% and a 20.4% success rate. Benjamin is ranked #3257 out of 3324 analysts.