UPDATE: J.P. Morgan Initiates Cellular Dynamics with Overweight on Market Leader Position
In a report published Monday, J.P. Morgan analyst Tycho W. Peterson initiated coverage on Cellular Dynamics International (NASDAQ: ICEL) with an Overweight rating and $18.00 price target.
In the report, J.P. Morgan noted, “We are initiating coverage on Cellular Dynamics International (ICEL) with an Overweight rating and December 2014 price target of $18. The company is a first-mover and leader in industrialized stem cell manufacturing, including human induced pluripotent stem cells and custom products, with a focused pipeline, increasingly validated technology platform and strong competitive advantage due to scale and cost effectiveness. Despite expected net operating losses for next few years, we see significant revenue ramp and margin expansion ahead, led by higher rates of adoption from biopharmaceutical companies, as well as growth in the stem cell banking market and, ultimately, the emergence of cellular therapeutics.”
Cellular Dynamics International closed on Friday at $13.53.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.