UPDATE: Aegis Capital Raises PT to $3.50 on Neuralstem on Clinical Progress
Aegis Capital reiterated its Buy rating on Neuralstem (NYSE: CUR) and increased its price target from $3 to $3.50.
Aegis Capital commented, "We have been encouraged by Neuralstem's recent progress in the clinical development of both its stem cell platform, designated NSI-566, and its small molecule program, designated NSI-189. … From our perspective, the bear thesis on Neuralstem seems to have little merit at this juncture. We note that, while there is relatively little efficacy data as of yet, what has been revealed has largely been positive in nature. Further, the recent publication of research focusing on the firm's stem cell technology in the journal Cell is cause for confidence, in our view, as Cell is the highest impact factor life science journal in the world."
Neuralstem closed at $1.16 on Friday.
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