Roth Capital Reiterates Buy on Cytori Therapeutics Inc (CTIC) Following Complete Enrollment in ACT-OA Study
Roth Capital analyst Joseph Pantginis offered commentary on Cytori Therapeutics Inc (NASDAQ:CYTX) after the company announced complete enrollment of its Phase II ACT-OA study which evaluates Cytori’s ECCO-50 cellular therapeutic in patients with osteoarthritis of the knee. Pantginis maintained a Buy on the stock with a price target of $6.00. Shares of CYTX are currently trading at $0.66, up $0.02, or 2.76%.
Pantginis observed, “We are encouraged by the faster than anticipated enrollment and expect safety and six month follow-up in 1Q16. Pending positive results, we anticipate regulatory discussion and details on the Phase III design in due course. In our view, the expedited rate of enrollment underlines the need for a therapeutic approach in OA of the knee. The company states that the adaptation of its cell therapy to the day surgery setting, including tissue harvest, bedside autologous cellular therapeutic manufacture, as well as therapeutic delivery, occurred without difficulty.”
Furthermore, “We believe there is significant potential opportunity for Cytori’s novel cell therapy in OA patients who have limited non-surgical options. Such a new therapy could help not only the patients’ well being and expand the arsenal for treating physicians, but also help unburden the healthcare system from costs associated with OA such as ambulatory care and hospitalizations, including total knee replacements.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of 9.4% and a 51.1% success rate. Pantginis has a -16.7% average return when recommending CYTX, and is ranked #226 out of 3629 analysts.