Maxim Group analyst Jason Kolbert reiterated a Buy rating and $2.50 price target on StemCells (NASDAQ: STEM) following first quarter results and an overall update on the current clinical programs with a focus on PI/II spine and AMD trials.

The analyst notes data is coming. In Spinal Cord Injury (SCI), o Dr. Armin Curt, the principal investigator for the trial at Balgrist Hospital, Zurich, will present a clinical update on this study on Saturday, May 17, at the annual meeting of the American Spinal Injury Association (San Antonio, Texas). In Dry Age Related Macular Degeneration (AMD), interim results from this study will be shown at the annual meeting of the International Society for Stem Cell Research in Vancouver, Canada, from June 18-21.

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Shares of StemCells closed at $1.24 yesterday.