HC Wainwright started coverage on shares of Brainstorm Cell Therapeutics (NASDAQ:BCLI) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $11.00 price objective on the biotechnology company’s stock.
“We compare this to NurOwn. The drug not only has an established clean safety profile and convenient dosing, but also has the potential to be disease modifying, slowing down disease progression. This, coupled with orphan status for a 30K U.S. and 55K EU patient market, and we conclude there is real value in the company. We are initiating coverage of BCLI with a Buy rating and setting an $11 price target. The Phase 2 trial demonstrated proof of concept in ALS patients. The Phase 2 study, completed in July 2016, was a multi-center, double- blind, placebo-controlled trial in 48 ALS patients across three U.S. clinical sites. The endpoints in the trial were the change in the slope of Scale (ALSFRS- R) score and the change in Slow Vital Capacity (SVC) and muscle strength.”,” the firm’s analyst commented.
Several other research firms have also recently issued reports on BCLI. Maxim Group set a $9.00 price objective on shares of Brainstorm Cell Therapeutics and gave the stock a buy rating in a research report on Monday. ValuEngine raised shares of Brainstorm Cell Therapeutics from a sell rating to a hold rating in a research report on Tuesday, March 13th.
Brainstorm Cell Therapeutics (NASDAQ:BCLI) last released its quarterly earnings data on Monday, May 14th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. research analysts anticipate that Brainstorm Cell Therapeutics will post -0.59 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Clearline Capital LP purchased a new stake in shares of Brainstorm Cell Therapeutics during the 4th quarter worth $208,000. Deutsche Bank AG raised its stake in Brainstorm Cell Therapeutics by 330.0% during the 4th quarter. Deutsche Bank AG now owns 98,590 shares of the biotechnology company’s stock worth $386,000 after acquiring an additional 75,664 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Brainstorm Cell Therapeutics by 396.9% during the 4th quarter. Renaissance Technologies LLC now owns 114,550 shares of the biotechnology company’s stock worth $449,000 after acquiring an additional 91,495 shares in the last quarter. 9.56% of the stock is owned by institutional investors and hedge funds.
Brainstorm Cell Therapeutics Company Profile
Brainstorm Cell Therapeutics Inc, a biotechnology company, engages in the development and commercialization of central nervous system (CNS) adult stem cell therapies designed to address the unmet medical needs of patients with debilitating neurodegenerative diseases. The company holds rights to develop and commercialize its NurOwn technology that utilizes a patient's own cells, which are engineered outside the body, to produce and secrete factors known to promote neuronal survival.
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