FBR Capital Starts Asterias Biotherapeutics (AST) at Outperform

FBR Capital initiates coverage on Asterias Biotherapeutics (NYSE: AST) with a Outperform rating and a price target of $10.00.

Analyst Christopher James commented, "We are initiating coverage of Asterias Biotherapeutics, Inc. (AST) with an Outperform rating and a 12-month price target of $10 per share. We view Asterias as an emerging leader in the field of regenerative medicine with a core stem cell technology. The cells are pluripotent, which permits them to differentiate into any cell type in the body. Although Asterias has three clinical-stage products, its current product development efforts are primarily focused on AST-OPC1 for spinal cord injuries (SCIs) and AST-VAC2 for non-small cell lung cancer (NSCLC). AST-OPC1 is in a Phase I/IIa study for completed cervical spinal cord injury with an initial efficacy data readout in 2H16. In addition, Asterias' AST-VAC2 is being designed for a Phase I/II study by Cancer Research UK (CRUK). We held a recent discussion with a key opinion leader involved in the development of AST-OPC1 and came away with the following takeaways: (1) the cells clearly differentiate into glial cells, and (2) they were well tolerated with no evidence of tumor or ectopic development. Based on the totality of the data from both platforms, we believe AST shares are attractive at these levels."

For an analyst ratings summary and ratings history on Asterias Biotherapeutics click here. For more ratings news on Asterias Biotherapeutics click here.

Shares of Asterias Biotherapeutics closed at $4.66 yesterday.

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