UPDATE: Roth Capital Starts Neuralstem (CUR) at Buy
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
(Updated - August 29, 2016 9:23 AM EDT)
Roth Capital initiated coverage on Neuralstem (NASDAQ: CUR) with a Buy rating and a price target of $1.20. Analyst Joseph Pantginis thinks the company has "righted the ship," and he pointed out several “disconnects” in the underlying investment case.
"The lead product, NSI-189 is in a Phase II study for major depressive disorder (MDD) following strong Phase Ib data, in our belief. Based on the clinical data in hand with NSI-189, investors should revisit the story in preparation for important Phase II data in 2017," said Pantginis.
"Neuralstem has gone through a major revamping and in January 2016 saw a change in management as well as therapeutic focus. Until the restructuring, the lead focus was on NSI-566, which is cellular therapy being developed for ALS in a Phase II. The company is no longer dedicating any assets to NSI-566 and is now looking to monetize the asset through business development activities. The company is currently focused on a small molecule approach to neurological indications. NSI-189 is the lead small molecule asset and is in an ongoing Phase II for major depressive disorder (MDD). Data from this Phase II study are expected in 2H17. In the interim, the company needs to address a financing overhang, in order to grow its clinical operations," added the analyst.
Shares of Neuralstem closed at $0.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Oppenheimer Starts Shopify (SHOP) at Perform
- Pivotal Research Downgrades Kroger (KR) to Hold
- Canaccord Genuity Thinks Athleisure Apparel has Peaked and Cuts Lululemon (LULU) to 'Sell'
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot New Coverage, New Coverage
Related EntitiesRoth Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!