BTIG Upgrades Histogenics Corp. (HSGX) to Buy

August 12, 2016 7:53 AM EDT
Get Alerts HSGX Hot Sheet
Price: $2.66 -3.97%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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.

For an analyst ratings summary and ratings history on Histogenics Corp. click here. For more ratings news on Histogenics Corp. click here.

Shares of Histogenics Corp. closed at $2.00 yesterday.

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