Life Tech Capital Reiterates Strong Buy and PT of $4 on NeoStem

Life Tech Capital reiterated its Strong Buy rating on NeoStem (NYSE: NBS). At the same time, Life Tech left its price target on the company's stock unchanged at $4.

In a research report published today, Life Tech states, "While R&D efforts are ongoing in the U.S., especially with their bone marrow-derived adult stem cell technology VSEL™ (Very Small Embryonic Like), they have already commercialized adult stem cell therapies in China with indications such as orthopedics, wellness, cosmetic & anti-aging. We are maintaining our Strong Buy rating and 12-18 month Price Target of $4.00 based on a 35x multiple on projected 2014 earnings and discounted 20% to adjust for risk."

On Monday, NeoStem closed the day at $1.48.