In a report released today, Caroline Palomeque from Maxim Group maintained a Buy rating on Brainstorm Cell Therapeutics (BCLI), with a price target of $9. The company’s shares opened today at $3.10, close to its 52-week low of $2.88.
Palomeque noted:
“BrainStorm announced that the FDA has accepted the Investigational New Drug (IND) application that it filed last month for NurOwn in progressive multiple sclerosis (MS).”
According to TipRanks.com, Palomeque is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -20.0% and a 18.1% success rate. Palomeque covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics Inc, VistaGen Therapeutics, and Anavex Life Sciences.
Currently, the analyst consensus on Brainstorm Cell Therapeutics is a Moderate Buy with an average price target of $10.
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Based on Brainstorm Cell Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $3.18 million. In comparison, last year the company had a GAAP net loss of $2.4 million.
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Brainstorm Cell Therapeutics, Inc. operates as a biotechnology company, which develops and commercializes 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 New York, NJ.
