BioRestorative Therapies price target lowered to $15 from $18 at Roth Capital

Roth Capital analyst Jonathan Aschoff lowered the firm’s price target on BioRestorative Therapies (BRTX) to $15 from $18 and keeps a Buy rating on the shares. In the company’s updated interim blinded results from its Phase 2 trial evaluating BRTX-100 in cLDD patients, the press release contained the “wrong” patient numbers for over-50% improvement, though the percent of patients that achieved the thresholds at the timepoints was still accurate, the analyst tells investors in a research note. Despite the large caveat that comes with drawing conclusions from blinded data, the most recent data continue the encouraging trend, and as long as the data trend continues, and response ends up falling along randomization lines as is currently assumed, it appears as if the trial will succeed, Roth added.