Zacks Investment Research Upgrades Asterias Biotherapeutics Inc (AST) to Buy
Asterias Biotherapeutics Inc (NYSE:AST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $2.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.00% 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 (AST) traded down 0.3960% during mid-day trading on Wednesday, hitting $2.4901. 252,097 shares of the stock traded hands. The firm’s market capitalization is $124.45 million. Asterias Biotherapeutics has a 1-year low of $2.45 and a 1-year high of $5.80. The company has a 50-day moving average of $3.19 and a 200 day moving average of $3.31.
Asterias Biotherapeutics (NYSE:AST) last posted its quarterly earnings data on Monday, August 14th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $1.25 million. Asterias Biotherapeutics had a negative return on equity of 86.25% and a negative net margin of 2,762.03%. On average, equities research analysts anticipate that Asterias Biotherapeutics will post ($0.61) EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Upgrades Asterias Biotherapeutics Inc (AST) to Buy” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/25/zacks-investment-research-upgrades-asterias-biotherapeutics-inc-ast-to-buy.html.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Family Management Corp grew its stake in shares of Asterias Biotherapeutics by 15.6% in the second quarter. Family Management Corp now owns 47,424 shares of the biotechnology company’s stock worth $168,000 after acquiring an additional 6,416 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Asterias Biotherapeutics by 4.6% in the second quarter. California State Teachers Retirement System now owns 47,764 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 2,100 shares during the last quarter. State Street Corp grew its stake in shares of Asterias Biotherapeutics by 24.1% in the second quarter. State Street Corp now owns 328,717 shares of the biotechnology company’s stock worth $1,169,000 after acquiring an additional 63,773 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Asterias Biotherapeutics by 13.1% in the second quarter. Teachers Advisors LLC now owns 58,028 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 6,714 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Asterias Biotherapeutics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asterias Biotherapeutics Inc and related companies with MarketBeat.com's FREE daily email newsletter.