Roth Capital Partners launched coverage of Neuralstem (NASDAQ:CUR) with a “buy” rating and price target of $1.20. The stock closed at 25 cents on Friday.
Analyst Joseph Pantginis writes that Neuralstem has undergone a major restructuring and “we believe new management has righted the ship as it is now focused on small molecule approaches to neurological disorders.”
The lead product, NSI-189, is in a Phase 2 study for major depressive disorder, following positive Phase 1b data. “Based on the clinical data in hand with NSI-189, investors should revisit the story in preparation for important Phase 2 data in 2017,” he added.