Jason Kolbert Stays the Confident Course on Brainstorm Cell Therapeutics Inc (BCLI) Following Discussion with Management
Maxim's Jason Kolbert highlights a vast 196% upside potential for Brainstorm stock, backing fundamentals for this "pivotal" drug maker.
Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) may have been hit with some pullback in shares recently, but from the eyes of one massively confident bull on the Street, this biotech player’s fundamentals are as “sound” as ever. So why the share weakness?
“We see no fundamental reason,” writes Maxim analyst Jason Kolbert, who looks ahead to an interim look at the NurOwn pivotal study in amyotrophic lateral sclerosis (ALS) come June of the new year for safety and posted top-line data read-out by 2019.
As such, the analyst maintains a Buy rating on BCLI stock with a $9 price target, which implies a 196% upside from current levels. (To watch Kolbert’s track record, click here)
The pivotal phase 3 study continues to enroll, and around 200 patients are anticipated for a trial supported by $18 million in grants.
“Recall that Brainstorm completed a successful end-of-Phase II meeting with the FDA in advance of starting the pivotal study. Next steps: The Phase III multidose trial is a randomized (NurOwn vs. placebo), double-blind, placebo controlled multi-dose trial conducted at multiple sites in the U.S. and in Israel. The primary outcome measure for the pivotal trial will be the ALSFR-S score responder analysis. The patient population will be optimized to include faster-progressing patients who demonstrated superior outcomes in the NurOwn Phase 2 ALS trial. It’s also important to take note of the competitive landscape and how it may be changing in a favorable way to ‘lower the bar’ for approval”
“Brainstorm is now a pivotal company,” Kolbert concludes, standing by solid fundamentals that not only “remain unchanged” but keep this analyst bullish on the stock’s opportunity ahead.