Asterias Biotherapeutics (AST) Lowered to “Hold” at Raymond James

Asterias Biotherapeutics (NYSEAMERICAN:AST) was downgraded by Raymond James from an “outperform” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.

A number of other research analysts have also recently commented on the stock. HC Wainwright set a $11.00 price target on shares of Asterias Biotherapeutics and gave the company a “buy” rating in a research report on Thursday, May 10th. Zacks Investment Research upgraded shares of Asterias Biotherapeutics from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research report on Tuesday, July 10th. Finally, B. Riley set a $6.00 price target on shares of Asterias Biotherapeutics and gave the company a “buy” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Asterias Biotherapeutics currently has an average rating of “Hold” and an average price target of $6.17.

Shares of NYSEAMERICAN AST opened at $1.55 on Friday. Asterias Biotherapeutics has a one year low of $1.20 and a one year high of $3.74.

Asterias Biotherapeutics (NYSEAMERICAN:AST) last issued its quarterly earnings results on Wednesday, May 9th. The biotechnology company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. Asterias Biotherapeutics had a negative net margin of 403.38% and a negative return on equity of 79.80%. The business had revenue of $0.48 million for the quarter.

Several institutional investors have recently modified their holdings of the company. Creative Planning grew its holdings in shares of Asterias Biotherapeutics by 50.0% in the second quarter. Creative Planning now owns 180,313 shares of the biotechnology company’s stock worth $243,000 after purchasing an additional 60,100 shares during the last quarter. LMR Partners LLP bought a new position in shares of Asterias Biotherapeutics in the second quarter worth approximately $110,000. Deutsche Bank AG grew its holdings in shares of Asterias Biotherapeutics by 110.5% in the fourth quarter. Deutsche Bank AG now owns 66,180 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 34,739 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Asterias Biotherapeutics in the fourth quarter worth approximately $132,000.

About Asterias Biotherapeutics

Asterias Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing cell-based therapeutics to treat neurological conditions associated with demyelination, and cellular immunotherapies to treat cancer. Its clinical stage programs include AST-OPC1, an oligodendrocyte progenitor cell population derived from pluripotent stem cells that is in Phase I/IIa clinical trial for spinal cord injuries; AST-VAC2 is a non-patient-specific cancer immunotherapy derived from pluripotent stem cells for the treatment of non-small cell lung cancer; and AST-VAC1, a patient-specific cancer immunotherapy that has completed Phase II clinical trial for the treatment of acute myeloid leukemia.

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