Zacks Investment Research upgraded shares of Osiris Therapeutics, Inc. (OSIR) from NEUTRAL to OUTPERFORM on March 21, 2013, with a target price of $14.00.
Osiris reported a fourth-quarter loss of $0.08 per share, narrower than the Zacks Consensus Estimate of a loss of $0.15. However, year-ago earnings were $0.15 per share. Revenues for the quarter came in at $3.1 million, in-line with the Zacks Consensus Estimate but below the year-ago revenues of $11.0 million. Stem cell therapy, Prochymal, has the potential to be a sort of wonder drug for various inflammatory or tissue damage indications. Prochymal's approval in Canada and New Zealand were major milestones for the company. Osiris is studying Prochymal for several indications carrying blockbuster potential. Meanwhile, the Biosurgery segment is also gaining traction. We are upgrading Osiris to Outperform based on the company's improving prospects. A partnership deal for Prochymal would be a major boost for the stock.
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