In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Fibrocell Science Inc (NYSE MKT: FCSC), with a price target of $22. The company’s shares opened today at $1.75, equals to its 52-week low of $1.75.
Pantginis said:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $22 price target. We point out that the large delta between the current share price and our price target is driven by the company’s relatively low share count. Further, we believe that the current share price does not reflect, despite the low patient numbers, the ability of FCX-007 to address RDEB patients’ needs, as well as the accelerated potential from a regulatory standpoint, including a Priority Review Voucher (PRV).”
According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -13.0% and a 31.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Checkpoint Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fibrocell Science Inc with a $22 average price target.
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Based on Fibrocell Science Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.9 million. In comparison, last year the company had a GAAP net loss of $14.02 million.
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Fibrocell Science, Inc. is an autologous cell and gene therapy company, which engages in translating personalized biologics into medical breakthroughs for diseases affecting the skin and connective tissue. Its clinical and pre-clinical programs include treatments for restrictive burn scars, vocal cord scars, and acne scars.
