Analyst Calls OvaScience Data 'Promising' But Early

OvaScience Inc (NASDAQ: OVAS) extended its losses Monday on worries over testing results of its fertility treatment.

Shares fell 5.3 percent recently to $41.16. The shares are off more than 12 percent in the past five trading days.

OvaScience last week posted results of a small study revealing nine clinical pregnancies out of 17 embryo transfers.

H.C. Wainwright's Andrew S. Fein on Monday reiterated a Buy rating and $100.

Fein said there is at least one viable ongoing pregnancy that has resulted from OvaScience treatment.

If it results in a live birth, "that will be the most important catalyst for the shares to date," Fein said.

If indeed the event occurs, it will "eclipse any debate over embryo transfer statistics," according to Fein.

Data released last week were "generally positive" in Fein's view.

But given the small number of patients and the lack of a control group, Fein said, "it may still be early to make a strict comparison" of its results with that of historical in vitro fertilization success rates.

"The data must be appreciated for what it is," Fein said, "very limited real-world patient experience rather than a tightly designed experimental protocol."

OvaScience's fertility treatment, called Augment, is unavailable in the U.S. and seeks to boost egg viability using mitochondria from a woman's immature "precursor" egg cells found inside the protective ovarian lining.

Seven analysts following OvaSciene have a mean rating of Buy and a $64 target.