In a report released today, Andrew D’silva from B.Riley FBR maintained a Buy rating on Cytori Therap (NASDAQ: CYTX), with a price target of $7. The company’s shares opened today at $2.35, close to its 52-week low of $2.07.
D’silva wrote:
“We believe the next 12 months provide the potential for several significant catalysts that if achieved should result in meaningful upside and are likely not realized in the current share price due to low expectations and include: obtaining preliminary trial data from the ADRESU clinical trial in Japan for male urinary incontinence that completed enrollment at the end of March; obtaining trial data in 2H18 from SCLERADEC II which we discussed in an update earlier this year; and, perhaps most importantly, completing the manufacturing and regulatory activities required to prepare and file an application for EMA approval for ATI-0918 and obtaining a strategic marketing partner for the offering. As a result, we are maintaining our Buy rating and are taking our PT from $0.70 to $7.00, which is directly tied to the reduced share count related to the 1:10 reverse split.”
According to TipRanks.com, D’silva is a 5-star analyst with an average return of 23.3% and a 56.5% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc., Kindred Biosciences, and Cytosorbents Corp.
Currently, the analyst consensus on Cytori Therap is Strong Buy and the average price target is $4.33, representing an 84.3% upside.
In a report issued on May 14, H.C. Wainwright also maintained a Buy rating on the stock with a $4 price target.
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Based on Cytori Therap’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.41 million. In comparison, last year the company had a GAAP net loss of $7.54 million.
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Cytori Therapeutics, Inc. is a late stage cell therapy company which engages in the development of autologous cell therapies from adipose tissue, using its proprietary technology, to treat a variety of medical conditions. It offers the Cytori Nanomedicine, Cytori Cell Therapy, and other clinical trials.
