Maxim Group analyst Jason McCarthy assigned a Buy rating to Brainstorm Cell Therapeutics (NASDAQ: BCLI) today and set a price target of $9. The company’s shares opened today at $5.05, close to its 52-week high of $5.30.
McCarthy noted:
“On May 30th, President Trump Signed the “Right-to-Try” bill into law, marking a historic advance in bringing terminally ill patients that may not qualify for clinical trials access to clinical stage therapeutics prior to FDA approval.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.5% and a 46.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Currently, the analyst consensus on Brainstorm Cell Therapeutics is Moderate Buy and the average price target is $10, representing a 98.0% upside.
In a report issued on May 29, H.C. Wainwright also assigned a Buy rating to the stock with a $11 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.
