Maxim Group analyst Jason McCarthy maintained a Buy rating on BioRestorative Therapies (BRTX – Research Report) yesterday and set a price target of $8.00.
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Jason McCarthy has given his Buy rating due to a combination of factors surrounding BioRestorative Therapies’ ongoing Phase 2 study for BRTX-100 in chronic lumbar disc disease. The recent presentation at the Orthopaedic Research Society’s annual meeting revealed promising initial data with no serious adverse events or dose-limiting toxicity, which suggests a positive safety profile for the treatment. Additionally, the response trends in the blinded dataset showed significant improvement, with a 74% average improvement at 52 weeks and a 70% responder trend, aligning with the anticipated treatment efficacy.
Furthermore, the broader mesenchymal stem cell (MSC) market remains vibrant, with other companies like INmune Bio and Capricor making strides in MSC-based therapies, indicating potential regulatory acceptance. This context enhances the optimistic outlook for BioRestorative’s BRTX-100, as it progresses through clinical trials. The initial data and the current MSC market dynamics contribute to McCarthy’s confidence in recommending a Buy rating for BioRestorative Therapies’ stock.