Pluristem Therapeutics, Inc. (PSTI) PT Set at $2.00 by Maxim Group
Pluristem Therapeutics, Inc. (NASDAQ:PSTI) received a $2.00 target price from research analysts at Maxim Group in a research note issued on Monday. The firm currently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s price objective indicates a potential upside of 56.25% from the company’s previous close.
The analysts wrote, “Summary Pluristem announced that Austria’s regulatory health agency, the Austrian Agency for Health and Food Safety (AGES), has cleared the study to begin enrollment in Austria. The PIII trial is currently enrolling patients in the U.S., U.K., and Germany. Pluristem is focused on showing the benefits of therapy in prolonging the time to an event. If patients can keep a limb a year longer, is the therapy viable and does it create value. We do believe the current statistical plan is well designed to show if a difference exists in the time to event analysis. What will be critical will be if US regulators will accept time to event in place of AFS for approval. It stands to reason that a treatment effect which prolongs time to event, (as is the standard on oncology) could suffice for approval in CLI (Critical Limb Ischemia). i.e. if the treated group keeps limbs longer, is the therapy approvable one and is there benefit? We must also consider changes in the regulatory landscape and what impact the adaptive pathway and 21st Century Act might have on regenerative medicine – cell therapy approval timelines.””
A number of other equities analysts have also recently commented on PSTI. Zacks Investment Research cut shares of Pluristem Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, April 13th. HC Wainwright reiterated a “buy” rating and issued a $3.50 target price on shares of Pluristem Therapeutics in a research report on Friday, May 5th.
Shares of Pluristem Therapeutics (NASDAQ:PSTI) traded down 3.91% on Monday, reaching $1.23. 41,561 shares of the company’s stock traded hands. The firm’s market cap is $118.49 million. Pluristem Therapeutics has a one year low of $1.04 and a one year high of $1.85. The company’s 50-day moving average price is $1.35 and its 200 day moving average price is $1.32.
A number of institutional investors have recently modified their holdings of PSTI. Renaissance Technologies LLC boosted its position in shares of Pluristem Therapeutics by 8.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,424,800 shares of the biotechnology company’s stock worth $2,037,000 after buying an additional 113,300 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Pluristem Therapeutics by 46.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 92,000 shares of the biotechnology company’s stock worth $135,000 after buying an additional 29,000 shares during the last quarter. Menora Mivtachim Holdings LTD. acquired a new position in shares of Pluristem Therapeutics during the first quarter worth approximately $1,230,000. Finally, Jane Street Group LLC boosted its position in shares of Pluristem Therapeutics by 62.4% in the first quarter. Jane Street Group LLC now owns 108,830 shares of the biotechnology company’s stock worth $134,000 after buying an additional 41,796 shares during the last quarter. Institutional investors own 3.79% of the company’s stock.
About Pluristem Therapeutics
Pluristem Therapeutics Inc is a developer of placenta-based cell therapy product candidates for the treatment of multiple ischemic, inflammatory and hematologic conditions. The Company’s lead indications are critical limb ischemia (CLI), recovery after surgery for femoral neck fracture and acute radiation syndrome.
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