Pluristem Therapeutics, Inc. (NASDAQ:PSTI) was upgraded by stock analysts at Maxim Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $2.00 target price on the biotechnology company’s stock. Maxim Group’s target price indicates a potential upside of 51.52% from the company’s current price.
The analysts wrote, “Summary We recently spent time with Pluristem’s management team in Israel and reviewed in detail the thinking behind the current Phase III trial design. 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. 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. Given the depressed market capitalization of the company, ~$120M range and the balance sheet, post raise, (~$35M) we believe there will be enough positive news flow to support an increase in valuation.””
A number of other brokerages have also recently commented on PSTI. Zacks Investment Research cut Pluristem Therapeutics from a “buy” rating to a “hold” rating in a 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 report on Friday, May 5th.
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Large investors have recently modified their holdings of the company. Jane Street Group LLC raised its stake 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake 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 in the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in shares of Pluristem Therapeutics during the first quarter worth about $1,230,000. Finally, Renaissance Technologies LLC raised its stake in shares of Pluristem Therapeutics by 9.1% in the first quarter. Renaissance Technologies LLC now owns 1,553,800 shares of the biotechnology company’s stock worth $1,911,000 after buying an additional 129,000 shares in the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.
Pluristem Therapeutics Company Profile
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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