In a report released today, Caroline Palomeque from Maxim Group maintained a Buy rating on Brainstorm Cell Therapeutics (NASDAQ: BCLI), with a price target of $9. The company’s shares opened today at $3.15, close to its 52-week low of $2.88.
Palomeque commented:
“Brainstorm this morning reported 3Q18 with a net loss of $3.2M and ended the period with $10.9M in cash on the balance sheet. The company is also due another $8M combined from CIRM and IIA grants. The company should have sufficient runway to reach pivotal data in ALS, expected 1H20.”
According to TipRanks.com, Palomeque is ranked 0 out of 5 stars with an average return of -8.9% and a 35.9% 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, which is a 217.5% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $11 price target.
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The company has a one-year high of $5.35 and a one-year low of $2.88. Currently, Brainstorm Cell Therapeutics has an average volume of 58.72K.
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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.
