Needham & Company Starts Pluristem Therapeutics (PSTI) at Buy; Leading Cell Therapy Platform

Needham & Company initiates coverage on Pluristem Therapeutics (NASDAQ: PSTI) with a Buy. PT $5.00.

Analyst, Chad Messer, said, "Pluristem is developing Placental Expanded (PLX) cells to treat multiple cardiac and inflammatory diseases. We believe Pluristem’s PLX technology platform can generate multiple cell therapy products with significant cost of goods advantages. The company’s lead product PLX-PAD will begin Phase III testing in critical limb ischemia (CLI) in 1Q:13. Pluristem is also developing different PLX cell products for use in orthopedic diseases and bone marrow protection, as well as pulmonary hypertension (PH) with partner United Therapeutics. Trading at a valuation of only ~$115 million including $39.5 million in cash, we view PSTI as a deep value play with multiple shots on goal and significant long term upside for investors."

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

Shares of Pluristem Therapeutics closed at $2.65 yesterday.

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