BTIG Upgrades Histogenics Corp. (HSGX) to Buy
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BTIG upgraded Histogenics Corp. (NASDAQ: HSGX) from Neutral to Buy with a price target of $3.50. Analyst Sean Lavin noted that patient enrollment was on track.
"HSGX continued its Ph. 3 NeoCart trial with another quarter of solid patient enrollment rates. We believe the goal line is in sight and while the exact finishing month could move a month or two we have strong confidence at this point that the trial will be completed. Previously when we moved to Neutral we were not sure. We continue to expect a 2Q/3Q17 enrollment completion and do not feel the exact date is material. We do note HSGX will need to raise capital in the near-term and this continues to be an overhang but even so upside now seems to outweigh risk," said the analyst.
Shares of Histogenics Corp. closed at $2.00 yesterday.
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