BioTime (BTX) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of BioTime (NYSEAMERICAN:BTX) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “BioTime, Inc. is a clinical-stage biotechnology company focused on developing and commercializing novel therapies in the field of regenerative medicine. The foundation of its core therapeutic technology platform is pluripotent cells that are capable of becoming any of the cell types in the human body. BioTime’s research and other activities have resulted, over time, in the creation of other subsidiaries that address other non-therapeutic market opportunities such as cancer diagnostics, drug development and cell research products, and mobile health software applications. “

Several other analysts also recently weighed in on BTX. Maxim Group started coverage on BioTime in a research report on Thursday, January 24th. They set a buy rating and a $3.00 price objective for the company. Dawson James started coverage on BioTime in a research report on Thursday, February 7th. They set a buy rating for the company. HC Wainwright started coverage on BioTime in a research report on Thursday, February 21st. They set a buy rating and a $4.00 price objective for the company. Finally, Raymond James dropped their price objective on BioTime from $6.00 to $5.00 and set an outperform rating for the company in a research report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. BioTime presently has a consensus rating of Buy and a consensus price target of $3.46.

NYSEAMERICAN:BTX opened at $1.20 on Tuesday. BioTime has a fifty-two week low of $0.66 and a fifty-two week high of $2.81.

BioTime (NYSEAMERICAN:BTX) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.36. The business had revenue of $0.93 million for the quarter, compared to the consensus estimate of $0.66 million.

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC increased its holdings in BioTime by 165.4% in the 4th quarter. Virtu Financial LLC now owns 34,884 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 21,741 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in BioTime by 515.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 25,171 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 21,080 shares in the last quarter. LPL Financial LLC increased its holdings in BioTime by 383.4% in the 4th quarter. LPL Financial LLC now owns 51,504 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 40,850 shares in the last quarter. Voya Investment Management LLC increased its holdings in BioTime by 42.3% in the 1st quarter. Voya Investment Management LLC now owns 46,234 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 13,738 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in BioTime by 39.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 47,068 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 13,383 shares in the last quarter.

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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