BioTime (BTX) Issues Quarterly Earnings Results

BioTime (NYSEAMERICAN:BTX) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.07) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07), Morningstar.com reports. The business had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $0.74 million.

BTX stock opened at $1.55 on Friday. BioTime has a 1-year low of $0.66 and a 1-year high of $2.81.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded BioTime from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Thursday, January 3rd. HC Wainwright assumed coverage on BioTime in a research report on Thursday, February 21st. They set a “buy” rating and a $4.00 price target on the stock. Maxim Group set a $3.00 price target on BioTime and gave the company a “buy” rating in a research report on Friday, February 15th. Dawson James assumed coverage on BioTime in a research report on Thursday, February 7th. They set a “buy” rating on the stock. Finally, CIBC assumed coverage on BioTime in a research report on Tuesday, December 11th. They set an “outperform” rating and a $3.50 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $3.05.

Hedge funds have recently bought and sold shares of the stock. IndexIQ Advisors LLC increased its position in shares of BioTime by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 845,072 shares of the biotechnology company’s stock worth $1,977,000 after purchasing an additional 31,918 shares during the last quarter. Vanguard Group Inc increased its position in shares of BioTime by 0.6% in the third quarter. Vanguard Group Inc now owns 4,467,698 shares of the biotechnology company’s stock worth $10,499,000 after purchasing an additional 27,841 shares during the last quarter. Destination Wealth Management bought a new position in shares of BioTime in the third quarter worth approximately $1,237,000. Bridgeway Capital Management Inc. grew its position in BioTime by 1,066.5% during the third quarter. Bridgeway Capital Management Inc. now owns 190,700 shares of the biotechnology company’s stock valued at $448,000 after acquiring an additional 174,352 shares during the last quarter. Finally, Defender Capital LLC. bought a new position in BioTime during the fourth quarter valued at approximately $3,629,000.

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About BioTime

BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing products addressing degenerative diseases based on pluripotent stem cells and HyStem cell/drug delivery platform technologies primarily in the United States and Israel. 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; and Renevia, a facial aesthetics product that is in pivotal clinical trial for the treatment of HIV-associated facial lipoatrophy.

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Earnings History for BioTime (NYSEAMERICAN:BTX)

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