Maxim Group Remains a Buy on Cellular Biomedicine Group

By Ryan Adsit

Maxim Group analyst Gabrielle Zhou reiterated a Buy rating on Cellular Biomedicine Group (NASDAQ: CBMG) today and set a price target of $18. The company’s shares opened today at $8.85.

Zhou wrote:

“As Gilead pays $12 Billion for the planned acquisiton of Kite (KITE – $178.28 – Hold) and the market shifts focus to the remaining stand-alone CAR-T players such as JUNO (JUNO – $43.67 – Buy) and bluebird (BLUE – $103.88 – Buy) we see an opportunity with CBMG in China.”

According to TipRanks.com, Zhou is a 3-star analyst with an average return of 4.9% and a 42.6% success rate. Zhou covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, ContraVir Pharmaceuticals Inc, and Sciclone Pharmaceuticals.

Cellular Biomedicine Group has an analyst consensus of Moderate Buy, with a price target consensus of $18.

Based on Cellular Biomedicine Group’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $62.91K and GAAP net loss of $6.2 million. In comparison, last year the company earned revenue of $71.6K and had a GAAP net loss of $7.2 million.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CBMG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cellular Biomedicine Group, Inc. is a biopharmaceutical company. The company engages in the development of treatments for degenerative and cancerous diseases utilizing proprietary cell-based technologies.