Oppenheimer analyst Mark Breidenbach initiated coverage with a Buy rating on Gamida Cell Ltd (GMDA) today and set a price target of $15. The company’s shares closed yesterday at $9.84, close to its 52-week high of $10.60.
Breidenbach commented:
“We initiate coverage of Outperform rating and $15 price target. We see Gamida’s proprietary cell expansion technology as a versatile approach for improving the performance of cell-based products. Gamida is applying its core technology in two related areas of high unmet need including hematopoietic transplant and hematological cancers. Gamida’s lead product, NiCord, could provide a safe and effective source of stem cells for transplant patients who lack compatible donors. 3 development, NiCord could be positioned for launch by late 2020. Gamida’s second clinical stage program, NAM-NK, is an exciting entry into the nascent field of adoptive NK therapy and has already shown objective clinical activity.”
According to TipRanks.com, Breidenbach has 0 stars on 0-5 star ranking scale with an average return of -3.9% and a 27.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences Inc, Global Blood Therapeutics, and Sorrento Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gamida Cell Ltd with a $17.50 average price target, representing a 77.8% upside. In a report released yesterday, RBC Capital also initiated coverage with a Buy rating on the stock with a $20 price target.
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The company has a one-year high of $10.60 and a one-year low of $0. Currently, Gamida Cell Ltd has an average volume of 104.9K.
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Gamida Cell Ltd. is a clinical stage biopharmaceutical company, which engages in the development of cell therapies that are designed to cure cancer and rare serious hematologic diseases. Its products pipeline include NiCord and NAM-NK. The company was founded by Tony Peled and Menashe Levy in 1998 and is headquartered in Jerusalem, Israel.
