In a report issued on June 12, Jason McCarthy from Maxim Group maintained a Buy rating on Pluristem (NASDAQ: PSTI), with a price target of $3. The company’s shares closed yesterday at $1.33.
McCarthy commented:
“Pluristem announced positive data from the P2 study of PLX-PAD cells in Intermittent Claudication (IC) demonstrating reduced incidence of revascularization and improved patient mobility. Recall that IC (Rutherford 2-3) can progress to Critical Limb Ischemia (CLI, Rutherford 4-5). The data were statistically significant and in our view is further validation of the design of the ongoing P3 pivotal study of PLX-PAD cells in CLI.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.1% and a 45.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Pluristem has an analyst consensus of Moderate Buy, with a price target consensus of $3.25.
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Based on Pluristem’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.53 million. In comparison, last year the company had a GAAP net loss of $7.86 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock.
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Pluristem Therapeutics, Inc. is a biotechnology company, which engages in the provision of cell therapy development. It develops placenta-based cell therapy product candidates for the treatment of multiple ischemic, inflammatory and hematologic conditions.
