In a report released today, Jason Kolbert from H.C. Wainwright assigned a Buy rating to Brainstorm Cell Therapeutics (NASDAQ: BCLI), with a price target of $11. The company’s shares closed on Friday at $4.61.
Kolbert noted:
“We note that “Right to Try” laws exist in 38 states, today: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Washington and Wyoming — but this federal bill would introduce legislation across state lines.”
According to TipRanks.com, Kolbert is ranked 0 out of 5 stars with an average return of -1.7% and a 40.6% success rate. Kolbert covers the Healthcare sector, focusing on stocks such as Sonoma Pharmaceuticals Inc, Cellular Biomedicine Group, and Onconova Therapeutics.
Currently, the analyst consensus on Brainstorm Cell Therapeutics is Moderate Buy and the average price target is $10, representing an 116.9% upside.
In a report issued on May 14, Maxim Group also maintained a Buy rating on the stock with a $9 price target.
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Based on Brainstorm Cell Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.3 million. In comparison, last year the company had a GAAP net loss of $1.79 million.
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Brainstorm Cell Therapeutics, Inc. operates as a biotechnology company, which develops innovative adult stem cell therapeutic products. It focuses on utilizing the patients own bone marrow stem cells to generate neuron-like cells that may provide an effective treatment initially for amyotrophic lateral sclerosis, Parkinson’s disease, multiple sclerosis and spinal cord injury. The company was founded on September 22, 2000 and is headquartered in Hackensack, NJ.
