Caladrius Biosciences (NASDAQ:CLBS) Lifted to “Buy” at Zacks Investment Research

Caladrius Biosciences (NASDAQ:CLBS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Friday, reports. The firm presently has a $3.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.46% from the stock’s current price.

According to Zacks, “Caladrius Biosciences, Inc. is an immunotherapy company which specializes in cell process optimization, development and manufacturing. Its product candidate consists of NBS20, a targeted cancer immunotherapy product for the treatment of metastatic melanoma; NBS10, an ischemic repair product to preserve heart muscle function following an acute myocardial infarction and NBS03D, an immune modulation product for the treatment of diabetes which are in different clinical trials. Caladrius Biosciences, Inc., formerly known as NeoStem, Inc., is headquartered in New York. “

Several other equities analysts also recently commented on the company. WBB Securities started coverage on Caladrius Biosciences in a research report on Tuesday, May 14th. They issued a “speculative buy” rating and a $6.75 price objective on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Caladrius Biosciences in a research report on Sunday, May 12th. Finally, ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $8.63.

NASDAQ:CLBS traded up $0.09 during midday trading on Friday, hitting $2.89. 85,459 shares of the company traded hands, compared to its average volume of 35,937. The firm has a fifty day moving average price of $2.68. Caladrius Biosciences has a 12-month low of $2.16 and a 12-month high of $6.83.

Caladrius Biosciences (NASDAQ:CLBS) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.05). As a group, analysts anticipate that Caladrius Biosciences will post -1.66 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Caladrius Biosciences stock. Wesbanco Bank Inc. acquired a new stake in Caladrius Biosciences Inc (NASDAQ:CLBS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the biotechnology company’s stock, valued at approximately $36,000. Wesbanco Bank Inc. owned about 0.10% of Caladrius Biosciences as of its most recent SEC filing. 7.59% of the stock is currently owned by institutional investors and hedge funds.

About Caladrius Biosciences

Caladrius Biosciences, Inc is a biopharmaceutical company, which engages in developing products in cardiovascular and autoimmune disease that have the potential to restore the health of people with chronic illnesses. Its product pipeline includes CLBS12, CLBS14, and CLBS03. The company was founded on September 18, 1980 and is headquartered in Basking Ridge, NJ.

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