Brainstorm Cell Therapeutics (NASDAQ:BCLI) has been given a $9.00 price objective by investment analysts at Maxim Group in a research note issued on Monday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s price objective points to a potential upside of 110.28% from the company’s previous close.
The analysts wrote, “Brainstorm this morning reported 2Q18 with a net loss of $3.1M and ended the period with $17.4M in cash, excluding $800K received from the IA grant. There is also an additional $7M remaining in the CIRM grant to fund the P3 trial of NurOwn in ALS. We estimate the company has cash runway into late 2019.””
BCLI has been the subject of several other research reports. ValuEngine raised shares of Brainstorm Cell Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Brainstorm Cell Therapeutics in a report on Tuesday, June 26th.
Brainstorm Cell Therapeutics (NASDAQ:BCLI) last posted its quarterly earnings data on Monday, July 23rd. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). analysts forecast that Brainstorm Cell Therapeutics will post -0.57 EPS for the current fiscal year.
A hedge fund recently raised its stake in Brainstorm Cell Therapeutics stock. Renaissance Technologies LLC raised its holdings in Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) by 396.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,550 shares of the biotechnology company’s stock after acquiring an additional 91,495 shares during the quarter. Renaissance Technologies LLC owned 0.61% of Brainstorm Cell Therapeutics worth $449,000 as of its most recent filing with the Securities and Exchange Commission. 8.29% of the stock is currently owned by hedge funds and other institutional investors.
About Brainstorm Cell Therapeutics
Brainstorm Cell Therapeutics Inc, a biotechnology company, engages in the development and commercialization of central nervous system (CNS) adult stem cell therapies designed to address the unmet medical needs of patients with debilitating neurodegenerative diseases. The company holds rights to develop and commercialize its NurOwn technology that utilizes a patient's own cells, which are engineered outside the body, to produce and secrete factors known to promote neuronal survival.
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