Maxim Group Reiterates “Buy” Rating for Brainstorm Cell Therapeutics (BCLI)

Brainstorm Cell Therapeutics (NASDAQ:BCLI)‘s stock had its “buy” rating reissued by research analysts at Maxim Group in a report released on Tuesday, January 22nd. They presently have a $9.00 target price on the biotechnology company’s stock. Maxim Group’s target price would indicate a potential upside of 132.56% from the company’s previous close.

The analysts wrote, “BrainStorm announced that the Israel Patent Office has granted it a new patent for NurOwn. With this patent, the company continues to expand its intellectual property (IP) portfolio for NurOwn building on its strategy to eventually have a global patent portfolio which would provide access to patients worldwide.””

Several other analysts also recently issued reports on BCLI. Dawson James reiterated a “buy” rating on shares of Brainstorm Cell Therapeutics in a research note on Tuesday, December 18th. HC Wainwright set a $11.00 target price on Brainstorm Cell Therapeutics and gave the company a “buy” rating in a research note on Monday, October 29th.

BCLI opened at $3.87 on Tuesday. The stock has a market cap of $80.15 million, a PE ratio of -14.88 and a beta of 1.32. Brainstorm Cell Therapeutics has a 52-week low of $2.88 and a 52-week high of $5.35.

An institutional investor recently raised its position in Brainstorm Cell Therapeutics stock. ETF Managers Group LLC boosted its holdings in shares of Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) by 75.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,797 shares of the biotechnology company’s stock after acquiring an additional 28,809 shares during the period. ETF Managers Group LLC owned approximately 0.32% of Brainstorm Cell Therapeutics worth $237,000 as of its most recent filing with the Securities and Exchange Commission. 11.56% of the stock is currently owned by institutional investors.

Brainstorm Cell Therapeutics Company Profile

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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