Rodman & Renshaw Reiterates Neostem Market Outperform, $3 PT

Rodman & Renshaw reiterated its Neostem Market Outperform / Speculative Risk rating and $3 price target in a research report published today.

In the report, Rodman & Renshaw states, "The announcement of the enrollment of the first patient in the PreSERVE trial highlights NeoStem’s presence at the forefront of therapeutic stem cell research. With the previous acquisition of PCT, NeoStem is positioning itself as an all-in-one cell-based therapeutic company with a steady revenue stream to support future pipeline developments. Taken together, we consider NeoStem to be an undervalued company in the stem cell / cell-based therapeutic space."

Shares of Neostem were trading at $0.67 at the time of posting, down 3.37% from Wednesday's market close.