Maxim Group Thinks Cytori Therap’s Stock is Going to Recover


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Cytori Therap (NASDAQ: CYTX), with a price target of $2. The company’s shares closed yesterday at $0.32, close to its 52-week low of $0.22.

McCarthy commented:

“Cytori reported 1Q18 with revenue of $730K and a net loss of $4.4M. The company ended the period with $5.9M in cash. We expect operating expenses to come down from $4M+ per quarter to ~$3M as the focus shifts to getting ATI-0918 to regulatory filing, the consumables business in Japan. and the program in post-surgical urinary incontinence..”

According to TipRanks.com, McCarthy is a 2-star analyst with an average return of 0.9% and a 36.8% 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 Cytori Therap is Strong Buy and the average price target is $2.23, representing a 603.2% upside.

In a report issued on May 7, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $4 price target.

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The company has a one-year high of $1.21 and a one-year low of $0.22. Currently, Cytori Therap has an average volume of 620.6K.

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Cytori Therapeutics, Inc. is a late stage cell therapy company which engages in the development of autologous cell therapies from adipose tissue, using its proprietary technology, to treat a variety of medical conditions. It offers the Cytori Nanomedicine, Cytori Cell Therapy, and other clinical trials.

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