Asterias Biotherapeutics Inc (AST) Upgraded to “Buy” at Zacks Investment Research
Asterias Biotherapeutics Inc (NYSE:AST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $3.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.38% from the stock’s previous close.
According to Zacks, “Asterias Biotherapeutics, Inc. is a biotechnology company. It is focused on the field of regenerative medicine. The Company’s technologies center on stem cells capable of becoming all of the cell types in the human body, a property called pluripotency. It develops therapies based on pluripotent stem cells to treat diseases or injuries in a variety of medical fields, with an initial focus on the therapeutic areas of neurology and oncology. Asterias Biotherapeutics, Inc. is based in Menlo Park, California. “
Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Asterias Biotherapeutics in a report on Monday, October 2nd.
Asterias Biotherapeutics (NYSE:AST) last posted its earnings results on Monday, August 14th. The biotechnology company reported ($0.18) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.18). Asterias Biotherapeutics had a negative return on equity of 86.25% and a negative net margin of 2,762.03%. The firm had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $1.25 million. Equities research analysts forecast that Asterias Biotherapeutics will post ($0.61) earnings per share for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of AST. Family Management Corp boosted its holdings in Asterias Biotherapeutics by 15.6% in the 2nd quarter. Family Management Corp now owns 47,424 shares of the biotechnology company’s stock worth $168,000 after buying an additional 6,416 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Asterias Biotherapeutics by 4.6% in the 2nd quarter. California State Teachers Retirement System now owns 47,764 shares of the biotechnology company’s stock worth $170,000 after buying an additional 2,100 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Asterias Biotherapeutics by 13.1% in the 2nd quarter. Teachers Advisors LLC now owns 58,028 shares of the biotechnology company’s stock worth $206,000 after buying an additional 6,714 shares during the last quarter. Finally, State Street Corp boosted its holdings in Asterias Biotherapeutics by 24.1% in the 2nd quarter. State Street Corp now owns 328,717 shares of the biotechnology company’s stock worth $1,169,000 after buying an additional 63,773 shares during the last quarter.
About Asterias Biotherapeutics
Asterias Biotherapeutics, Inc is a biotechnology company. The Company is engaged in developing and commercializing therapies in the fields of cell therapy and regenerative medicine. The Company has over two technology platforms. The first is an immunotherapy platform to teach cancer patients’ immune systems to attack their tumors.
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