Biostem Technologies initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth initiated coverage of Biostem Technologies (BSEM) with a Buy rating and $9 price target While the decline in industry revenues has resulted in depressed valuations for wound care players, BioStem has been generating a “robust” clinical evidence package, the analyst tells investors in a research note. The firm believes successful execution could result in sustainable growth for BioStem. It feels the stock’s valuation is “fundamentally disconnected from the company’s substantial operating leverage within its vertically integrated manufacturing facility and its expanding multi-billion-dollar addressable market.”