UPDATE: MLV Raises PT on Aastrom Biosciences to $7.50

MLV is out with its report today on Aastrom Biosciences (NASDAQ: ASTM), raising its PT to $7.50 from $5.50.

In its report, MLV writes, "We have revised our model and project that Aastrom could become profitable in 2015 following the launch of ixmyelocel-T (assuming REVIVE produces positive results). MLV is maintaining its BUY recommendation and raising its one-year price target from $5.50 to $7.50."

At the time of posting, shares of ASTM were trading pre-market at $2.65, up 1.15% from Monday's close.