Shares of BioTime, Inc. (NYSEAMERICAN:BTX) have been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.50.
BTX has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of BioTime in a research note on Friday, August 9th. Raymond James initiated coverage on BioTime in a research note on Thursday, June 13th. They issued a “market perform” rating on the stock. Finally, Zacks Investment Research lowered BioTime from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.
BioTime stock remained flat at $$0.92 on Friday. BioTime has a twelve month low of $0.66 and a twelve month high of $2.81.
BioTime (NYSEAMERICAN:BTX) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $0.78 million for the quarter, compared to the consensus estimate of $1.04 million.
In other news, major shareholder Biotime Inc sold 2,250,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $2.00, for a total value of $4,500,000.00. Following the sale, the insider now owns 12,424,244 shares of the company’s stock, valued at approximately $24,848,488. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders bought 16,407 shares of company stock worth $16,579.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of BioTime by 2.4% during the second quarter. Vanguard Group Inc. now owns 5,310,390 shares of the biotechnology company’s stock worth $5,841,000 after purchasing an additional 123,047 shares in the last quarter. Northern Trust Corp raised its position in BioTime by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,243,382 shares of the biotechnology company’s stock worth $1,367,000 after purchasing an additional 11,067 shares during the last quarter. Northeast Financial Consultants Inc raised its position in BioTime by 34.6% in the 2nd quarter. Northeast Financial Consultants Inc now owns 551,856 shares of the biotechnology company’s stock worth $607,000 after purchasing an additional 142,000 shares during the last quarter. Deutsche Bank AG lifted its holdings in BioTime by 95.6% during the 4th quarter. Deutsche Bank AG now owns 376,850 shares of the biotechnology company’s stock worth $343,000 after buying an additional 184,151 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in BioTime during the 2nd quarter worth $368,000.
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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