StemCells (STEM) Will Get 'Significant Portion' of Requested $20M from California -Roth Capital

Traders in StemCells (Nasdaq: STEM) shares are attributing an 8-10 percent rise in the stock Tuesday to some positive comments from Roth Capital's Joseph Pantginis.

The analyst said the California Institute for Regenerative Medicine has recommended funding for the company's application for the use of stem cells in patients with chronic cervical spinal-cord damage. Pantginis believes StemCells will receive at least a "significant portion" of the $20 million, having "major positive financial implications" for the company.

Pantginis maintains a Buy rating and $5 price target on shares of StemCells.

StemCells shares are up more than 130 percent since announcing encouraging data from a preclinical trial of cells which showed memory restoration.

Track all the market-moving analyst action on shares of StemCells with our Analyst Ratings page.

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