Needham & Company Starts Histogenics Corp. (HSGX) at Buy

Needham & Company initiates coverage on Histogenics Corp. (NASDAQ: HSGX) with a Buy rating and a price target of $17.00.

Analyst Chad Messer comments, "Histogenics is developing NeoCart, an autologous cartilage repair treatment that we believe could become standard of care for patients with serious knee and other cartilage defects. NeoCart has already demonstrated meaningful improvements in pain and function compared to the current standard of care treatment with microfracture in a randomized Phase II study. Histogenics is currently enrolling a nearly identical pivotal Phase III trial developed under a Special Protocol Assessment (SPA) with the FDA. While other cell-based cartilage replacement products have faced marketing challenges, we believe NeoCart's differentiated bioengineered manufacturing process and supporting clinical data could make it a market leader."

For an analyst ratings summary and ratings history on Histogenics Corp. click here. For more ratings news on Histogenics Corp. click here.

Shares of Histogenics Corp. closed at $11.05 yesterday.

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