UPDATE: MLV Initiates Pluristem Therapeutics at Buy on Unique Cell Therapy Platform

In a report published Friday, MLV analyst George B. Zavoico initiated coverage on Pluristem Therapeutics (NASDAQ: PSTI) with a Buy rating and $4.50 price target.

In the report, MLV noted, “We are initiating coverage of Pluristem Therapeutics based on accumulating, though early, evidence of efficacy and safety of its proprietary cell therapy products advancing into later stage clinical trials this year and next. Moreover, the company's proprietary and cost-effective three-dimensional cell production system can supply cells for ongoing and planned clinical trials. In our view, the combination of a deep pipeline for multiple high value indications, ownership and control of producing its cell therapy product, and a secure financial position, distinguishes Pluristem from many of its competitors. With the company's stock trading in a narrow range for several months and with upcoming milestones, we think the company is approaching an inflection point. We are initiating coverage of Pluristem with a BUY recommendation and a $4.50 one-year price target.”

Pluristem Therapeutics closed on Thursday at $3.14.