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Chardan Capital Maintains Buy on StemCells Inc (STEM) Following Positive Interim Cervical Spine Data

In a research report issued today, Chardan Capital analyst Keay Nakae reiterated a Buy rating on shares of StemCells Inc (NASDAQ:STEM), with a price target of $1.55, after the company reported positive data from an interim analysis of the first 6 patients in the first cohort of its Phase 2 Pathway study in cervical spinal cord injury. StemCells shares reacted to the news, rising 11.21% to $0.5060 on heavy volume, making it among the top winners today.

Nakae noted, “While coming from a small sample size, we view this as very encouraging early...