LifeTech Capital Maintains Strong Buy Rating, $4 PT On NBS

LifeTech Capital is maintaining its Strong Buy rating and $4 PT on shares of NeoStem, Inc. (NYSE: NBS).

“NeoStem has Record $69.8M in Revenues for 2010,” LifeTech Capital writes. “Suzhou Erye Pharmaceuticals accounted for the majority of revenues in 2010 while new business units, including the recent acquisition of PCT and stem cell based therapies in China are expected to continue to grow revenues in the future.

“NeoStem Closes Acquisition of Progenitor Cell Therapy (PCT): PCT has served over 100 clients worldwide with experience in over 20 different cell based therapeutics and has performed over 30,000 cell therapy procedures in its cell therapy manufacturing facilities. PCT has processed and stored over 18,000 cell therapy products including the logistics and transportation for over 14,000 cell therapy products for clinical use by over 5,000 patients.”

NeoStem closed Friday at $1.80.