HC Wainwright Reaffirms “Buy” Rating for Lineage Cell Therapeutics (NYSEAMERICAN:LCTX)

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 480.65% from the company’s previous close.

Separately, D. Boral Capital lifted their price objective on shares of Lineage Cell Therapeutics from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Lineage Cell Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $5.33.

Lineage Cell Therapeutics Stock Up 4.7%

Shares of NYSEAMERICAN:LCTX opened at $1.55 on Tuesday. Lineage Cell Therapeutics has a 52-week low of $0.37 and a 52-week high of $2.09. The stock has a market cap of $386.09 million, a price-to-earnings ratio of -5.54 and a beta of 1.74. The business has a 50-day moving average price of $1.69 and a 200-day moving average price of $1.69.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last issued its earnings results on Thursday, March 5th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07. Lineage Cell Therapeutics had a negative return on equity of 76.13% and a negative net margin of 436.47%.The firm had revenue of $6.61 million for the quarter, compared to analyst estimates of $1.96 million. As a group, equities analysts anticipate that Lineage Cell Therapeutics will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Lineage Cell Therapeutics

Large investors have recently bought and sold shares of the business. Defender Capital LLC. purchased a new position in Lineage Cell Therapeutics during the fourth quarter worth approximately $11,405,000. Marshall Wace LLP purchased a new stake in shares of Lineage Cell Therapeutics in the fourth quarter valued at approximately $2,275,000. Goldman Sachs Group Inc. raised its stake in shares of Lineage Cell Therapeutics by 894.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,438,746 shares of the company’s stock worth $2,403,000 after buying an additional 1,294,070 shares during the period. Jane Street Group LLC raised its stake in shares of Lineage Cell Therapeutics by 494.7% during the 4th quarter. Jane Street Group LLC now owns 1,004,794 shares of the company’s stock worth $1,678,000 after buying an additional 835,831 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Lineage Cell Therapeutics by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,006,930 shares of the company’s stock valued at $15,222,000 after buying an additional 524,057 shares in the last quarter. Institutional investors and hedge funds own 62.47% of the company’s stock.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, allogeneic cell therapies built on pluripotent stem cell platforms. The company focuses on three primary therapeutic areas—retinal disease, neural repair and immune-effector cell oncology—leveraging its proprietary manufacturing processes to create off-the-shelf cell therapy candidates designed for broad patient populations.

Its lead candidate, OpRegen, comprises retinal pigment epithelium cells intended to slow or reverse vision loss in patients with geographic atrophy secondary to age-related macular degeneration.