UPDATE: Ascendiant Capital Markets Initiates StemCells at Buy on Proprietary Products
Ascendiant Capital Markets initiated coverage on StemCells (NASDAQ: STEM) with a Buy rating and a $2.60 price target.
Ascendiant Capital Markets commented, "We believe that StemCells is an intriguing speculative small cap investment story. The Company is breaking new ground in its development of novel stem cell therapies. Of the four human stem cells identified and characterized to date, two (the hematopoietic and neural stem cells) were discovered by scientists who are currently on staff."
StemCells closed at $2.40 on Tuesday.
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