Dawson James starts Caladrius Biosciences at buy; PT $7
Dawson James Securities initiated coverage of Caladrius Biosciences (NASDAQ:CLBS) with a “buy” rating and price target of $7. The stock closed at $4.20 on Feb. 26.
The focus at Caladrius is cell therapy, with an emphasis on CD34 technology for ischemic disease, analyst Jason Kolbert writes, adding that the company has acquired certain rights for the CD34 technology, specifically for refractory angina. Caladrius also has received a Japanese version of breakthrough status.
CD34 is cell surface glycoprotein that is expressed on human bone marrow and progenitor cells, and appears to be responsible for, among other things, promoting the growth of blood supply.
The company’s therapy is now in a Phase 2 trial in Japan. “Depending on the results, it could be eligible for early conditional approval for the treatment of critical limb ischemia,” Mr. Kolbert said. In the U.S., the company is developing the therapy for refractory angina, he added.