Pluristem Therapeutics Given New $3.00 Price Target at Jefferies Group (PSTI)

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Pluristem Therapeutics (NASDAQ: PSTI) had its target price decreased by Jefferies Group from $3.50 to $3.00 in a research note released on Wednesday morning, StockRatingsNetwork.com reports. They currently have a hold rating on the stock.

“On 6/4/13, PSTI announced FDA has placed its Phase 2 for lead stem-cell product candidate PLX-PAD on clinical hold in light of a single episode of serious allergic reaction, creating further uncertainty regarding the timing of Phase 3 initiation (by ~YE13 previously). FDA will issue formal letter with questions and requests for information within the next month.,” the firm’s analyst wrote.

Shares of Pluristem Therapeutics (NASDAQ: PSTI) traded down 1.00% during mid-day trading on Wednesday, hitting $2.96. Pluristem Therapeutics has a one year low of $2.26 and a one year high of $5.00. The stock’s 50-day moving average is currently $3.09. The company’s market cap is $173.6 million.

A number of other firms have also recently commented on PSTI. Analysts at Maxim Group downgraded shares of Pluristem Therapeutics from a buy rating to a hold rating in a research note to investors on Tuesday. Analysts at MLV Capital initiated coverage on shares of Pluristem Therapeutics in a research note to investors on Friday, May 31st. They set a buy rating and a $4.50 price target on the stock.

Pluristem Therapeutics Inc. (NASDAQ: PSTI) is a bio-therapeutics company engaged in the commercialization of non-personalized (allogeneic) cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders.

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