Stock Update (NYSE MKT:CUR): US District Court Rules In Favor Of Neuralstem, Inc. In Patent Infringement Case
Neuralstem, Inc. (NASDAQ:CUR), a biopharmaceutical company using neural stem cell technology to develop small molecule and cell therapy treatments for central nervous system diseases, announced that the U.S. District Court for the District of Maryland dismissed StemCells, Inc.’s patent infringement case with prejudice in StemCells, Inc. v. Neuralstem, Inc. in favor of Neuralstem, on July 22, 2015.
The District Court held a bench trial on the issue of standing in December of 2014. In its 29-page Memorandum Opinion, the U.S. District Court for the District of Maryland ruled that a third-party scientist is a co-owner and co-inventor of the patents-in-suit. As a result, StemCells, Inc. lacked standing on its own to bring its patent infringement claims against Neuralstem, Inc. and the case was dismissed with prejudice. (Original Source)
Shares of Neuralstem closed yesterday at $1.68. CUR has a 1-year high of $0 and a 1-year low of $0. The stock’s 50-day moving average is $1.88 and its 200-day moving average is $2.40.
On the ratings front, Neuralstem has been the subject of a number of recent research reports. In a report issued on June 29, MLV & Co. analyst Ram Selvaraju reiterated a Buy rating on CUR, with a price target of $6, which implies an upside of 257.1% from current levels. Separately, on May 11, Brean Murray Carret’s Jonathan Aschoff reiterated a Buy rating on the stock and has a price target of $8.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ram Selvaraju and Jonathan Aschoff have a total average return of 10.8% and 16.1% respectively. Selvaraju has a success rate of 47.8% and is ranked #436 out of 3713 analysts, while Aschoff has a success rate of 57.3% and is ranked #90.
Neuralstem Inc is a biotechnology company. It is engaged in the development and commercialization of treatments for central nervous system disease based on transplanting human neural stem cells and the use of small molecule drugs.