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FBR Affirms Pluristem (PSTI) at 'Outperform' Following New PLX-R18 Development Deal with Fukushima Medical

December 3, 2015 11:39 AM EST
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Price: $1.00 --0%

Rating Summary:
    7 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 3 | New: 1
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FBR affirms its Outperform rating and $6 price target on Pluristem Therapeutics Inc. (NASDAQ: PSTI) after the company announced that it has signed a Memorandum of Understanding (MOU) for a collaboration with Fukushima Medical University, Fukushima Global Medical Science Center. The purpose of the collaboration is to develop Pluristem's PLX-R18 cells for the treatment of Acute Radiation Syndrome (ARS), and for morbidities following radiotherapy in cancer patients.

Analyst Vernon Bernardino commented, Recall that Pluristem has already applied in Japan to conduct a Phase II trial with its PLX-PAD cells in critical limb ischemia, which is a peripheral artery disease (PAD) that can result in limb amputation and death, and is using the Accelerated Pathway for Regenerative Therapy. In conjunction with ongoing NIH-supported research to evaluate PLX-R18 cells as a potential treatment for the hematologic impact of ARS, we think Pluristem is on the right path to involve public health organizations in the development of PLX-R18 cells and its potential rapid approval in well-defined, high unmet medical need patient populations. With the stock near 52-week lows and major catalysts expected in the next three to six months, we think the stock is attractive for new investors and reiterate our Outperform rating.

For an analyst ratings summary and ratings history on Pluristem Therapeutics click here. For more ratings news on Pluristem Therapeutics click here.



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