UPDATE: Jefferies Initiates Pluristem Therapeutics at Hold on Balanced Risk/Reward

Jefferies initiated coverage on Pluristem Therapeutics

with a Hold rating and a $3.50 price target. Jefferies analyst Eun K. Yang commented, "Positives for PSTI include (1) real unmet need/large market potential in peripheral arterial disease (PAD) and (2) proprietary stem-cell technology platform & its potential for broad applicability. Challenges are (1) yet-tobe proven clinical efficacy of PLX cells; (2) Ph2 PLX-PAD data not until ~late-2014/early-2015; (3) difficult-to-treat PAD lead indication; and (4) potential clinical/regulatory hurdles for stem-cell products." Pluristem Therapeutics closed at $3.08 on Monday.