UPDATE: Brinson Patrick Initiates NeoStem at Market Outperform, Sees Strong Position in Cell-Based Therapy

In a report published Thursday, Brinson Patrick initiates coverage on NeoStem (NYSE: NBS) with a Market Outperform and $6 price target.

In the report Brinson Patrick wrote, "NeoStem is developing an active portfolio of product candidate assets based on the company's diverse array of technology platforms and leading adult stem cell products that target blockbuster market opportunities. We believe the company's business components, Amorcyte, Athelos, VSEL, and stem cell banking, position NeoStem at the forefront of shifting paradigms and advancements in the stem cell industry."

Share of NeoStem closed at $0.53 on Wednesday.