BioTime, Inc. (NYSEAMERICAN:BTX) Given Average Rating of “Buy” by Brokerages
BioTime, Inc. (NYSEAMERICAN:BTX) has received a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $3.50.
Several equities analysts have recently weighed in on the stock. Raymond James began coverage on shares of BioTime in a research note on Thursday, June 13th. They set a “market perform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of BioTime in a report on Friday, August 9th. Finally, Zacks Investment Research lowered shares of BioTime from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.
In other BioTime news, major shareholder Biotime Inc sold 2,250,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $2.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 12,424,244 shares in the company, valued at $24,848,488. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 16,407 shares of company stock valued at $16,579 in the last 90 days.
Shares of NYSEAMERICAN:BTX remained flat at $$0.92 during mid-day trading on Friday. BioTime has a 12-month low of $0.66 and a 12-month high of $2.81.
BioTime (NYSEAMERICAN:BTX) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $0.78 million during the quarter, compared to analyst estimates of $1.04 million.
BioTime Company Profile
BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. The company's lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.
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