McNicoll, Lewis & Vlak Maintains Aastrom Biosciences Buy, $7.50 PT

McNicoll, Lewis & Vlak maintained its Aastrom Biosciences (NASDAQ: ASTM) Buy rating and $7.50 price target in a research report published today.

In the report, McNicoll, Lewis & Vlak states, " This morning at the annual meeting of the 15th Annual Heart Failure Society of America Scientific Meeting in Boston, MA, Dr. Amit N. Patel, associate professor of surgery at the University of Utah School of Medicine, presented 12-month follow up results from Aastrom Biosciences, Inc.'s (Nasdaq:ASTM; Last close: $2.59) Phase II IMPACT-DCM clinical trial in a poster presentation."

Later in the report, McNicoll, Lewis & Vlak notes, "In our view, these results, taken together with previously reported results of ixmyelocel-T treatment of patients with critical limb ischemia, provide compelling evidence that Aastrom's processed autologous stem cells are capable of regenerating tissue such that a clear clinical benefit can be achieved. Based on these results, we expect the next trial to enroll only the more responsive ICM patients, with ixmyelocel-T delivered by catheter to avoid the risk of perioperative adverse events."

Shares of Aastrom Biosciences closed today at $2.59, up 3.19% from Friday's market close.