Stock Update (NASDAQ:CYTX): Cytori Therapeutics Inc Announces Enrollment Completion in U.S. Phase III Scleroderma Trial
Cytori Therapeutics Inc (NASDAQ:CYTX) announced completion of enrollment for its U.S. FDA approved Phase III STAR trial. A total of 88 patients were enrolled ahead of schedule, and all procedures were completed successfully without complications.
STAR is a randomized, placebo-controlled, double-blind, parallel group phase III FDA approved pivotal study investigating the efficacy and safety of Cytori Cell Therapy™ (ECCS-50) injected subcutaneously into the fingers of patients with impaired hand function from scleroderma. (Original Source)
Shares of Cytori closed yesterday at $2.39, down $0.13 or -5.16%. CYTX has a 1-year high of $10.50 and a 1-year low of $1.92. The stock’s 50-day moving average is $3.61 and its 200-day moving average is $3.32.
On the ratings front, Cytori has been the subject of a number of recent research reports. In a report issued on March 28, Maxim Group analyst Jason Kolbert reiterated a Buy rating on CYTX, with a price target of $75, which represents a potential upside of 3038.1% from where the stock is currently trading. Separately, on March 24, Roth Capital’s Joseph Pantginis maintained a Buy rating on the stock and has a price target of $22.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Joseph Pantginis have a total average return of -14.9% and 9.8% respectively. Kolbert has a success rate of 30.4% and is ranked #3902 out of 3903 analysts, while Pantginis has a success rate of 39.2% and is ranked #170.
Cytori Therapeutics, Inc. is a late stage cell therapy company. Its develops autologous cell therapies from adipose tissue, using its proprietary technology, to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapyâ¢ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair.