Neuralstem, Inc. (NASDAQ: CUR) is a biotechnology company whose patented technology allows for the production, on a commercial level, of a number of types of central nervous stem cells. These are in the development stage for the treatment of conditions and diseases of the central nervous system. The company recently announced the start of enrollment of patients for its phase II trial of NSI-189, a drug developed after Neuralstem did research into neural stem cell lines from the human hippocampus, a part of the brain involved in memory and the generation of neurons.
On November 7 of this year, Aegis Capital Corp. (http://dtn.fm/ep5M8) initiated coverage on Neuralstem, Inc., offering the company a 12-month target price of $2.25 with investment highlights including the enrollment of its phase II trial for NSI-189, the investment of $20 million from Tianjin Pharmaceuticals Holdings Group for completion of the phase II trial, the development of a stem cell platform, and its strong cash position.
Later, on November 10, 2016, Aegis Capital Corp. (http://dtn.fm/hF8ex) released an update to the report, reiterating the company’s ‘Buy’ rating and target price of $2.25 due to the release of Neuralstem’s quarterly results and the update on NSI-189. The company ended the third quarter of 2016 with $5.7 million in cash and cash equivalents with additional proceeds of $20 million from Tianjin Pharmaceuticals Holding Group being used mainly for the future development of NSI-189, the upcoming clinical trial for which is over 50% enrolled and is expected to deliver results as early as 2017.
Aegis Capital Corp. is not the only research analysts firm to take an interest in CUR. According to an article by Cerbat Gem Market News and Analysis (http://dtn.fm/YWjF2), a number of equities research analysts undertook coverage of the company, offering a similar ‘Buy’ rating. Brean Capital offered the company a target price on shares at $4.00 and Roth Capital set the company’s target price on shares at $1.20.
The article also pointed out that numerous hedge funds and other investors have modified their stakes in the company. Sabby Management LLC and Blair Williams & Co. both purchased new positions in CUR worth approximately $1.8 million and $122,000, respectively. CEO Richard J. Daly bought over 35,000 shares of the company worth just under $29,000. In addition, Vanguard Group, Inc. increased its position in shares by over 21%, giving the group ownership of over three million shares worth just under $1 million. Neuralstem is currently trading near $0.27 per share.
For more information, visit the company’s website at www.neuralstem.com
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