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The Maxim analysts have made “buy” recommendations for six Israeli biomed companies: Brainstorm, BioLine, Galmed, Intec Pharma, and Pluristem. The target price set by Maxim for their shares is 100-400% higher than their market value.

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Meanwhile, Teva also received a “buy” from Maxim, at a price 32% higher than market value. The report considers the prospect of 40 public and private companies.

“We saw a medical renaissance in Israel,” wrote Maxim analysts, Jason Kolbert and Jason McCarthy. They warned of a value gap between companies traded in Israel and similar companies in the US. “We are expecting the gap to close through dual-listing of the companies as they near commercialization. At those stages we will see global joint ventures, capital funding, and a greater presence in the US market.”

Maxim drew emphasis on several Israeli companies involved in “paradigm-changing technologies”, including private firms BioSight, PolyPid, Anima Biotech, Quark, and Izun and public companies Bonus, CollPlant, Kadimastem, VBL, Brainsway, Alcobra, and Compugen.

“The biotech industry has developed uniquely, with innovation centers around the globe. Israel is one of them,” wrote the analysts, noting the country has a high ratio of PhDs per capita. They said “the small companies are becoming the source for innovation while their large counterparts provide their expertise in production, regulation, and commercialization.”

They believe Israel has increased its importance to the global biotech field, estimating the number of Israeli companies in the sector to have passed 600, with revenue of $2 billion.

They further wrote, “The Israeli government is involved in a variety of efforts to encourage global companies to expand their direct involvement in research & development or production facilities in Israel.”

Published by Globes [online], Israel business news – www.globes-online.com – on March 10, 2016

SOURCE

http://www.globes.co.il/en/article-maxim-group-praises-israels-medical-renaissance-1001109179