Stock Repurchase Program Announced by Biorestorative Therapies (NASDAQ:BRTX) Board of Directors

Biorestorative Therapies (NASDAQ:BRTX) declared that its board has authorized a share buyback plan on Tuesday, June 17th, RTT News reports. The company plans to repurchase $2.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 15.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Biorestorative Therapies Stock Down 1.2%

BRTX stock opened at $1.70 on Thursday. Biorestorative Therapies has a twelve month low of $1.21 and a twelve month high of $2.55. The stock’s 50 day moving average is $1.74 and its 200-day moving average is $1.78. The firm has a market capitalization of $12.75 million, a PE ratio of -1.16 and a beta of 76.75.

Biorestorative Therapies (NASDAQ:BRTX) last posted its earnings results on Wednesday, May 14th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.24). Biorestorative Therapies had a negative net margin of 3,093.61% and a negative return on equity of 129.47%. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.38 million. On average, equities research analysts anticipate that Biorestorative Therapies will post -1.43 earnings per share for the current fiscal year.

About Biorestorative Therapies

BioRestorative Therapies, Inc, a life sciences company, focuses on the development of regenerative medicine products and therapies using cell and tissue protocols primarily involving adult stem cells. The company's two core developmental programs relate to the treatment of disc/spine disease and metabolic disorders.