BioTime, Inc. (BTX) Stock Rating Lowered by Zacks Investment Research
BioTime, Inc. (NYSEMKT:BTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “BioTime, Inc. is a clinical-stage biotechnology company focused on developing and commercializing novel therapies in the field of regenerative medicine. The foundation of its core therapeutic technology platform is pluripotent cells that are capable of becoming any of the cell types in the human body. BioTime’s research and other activities have resulted, over time, in the creation of other subsidiaries that address other non-therapeutic market opportunities such as cancer diagnostics, drug development and cell research products, and mobile health software applications. “
Separately, Ladenburg Thalmann began coverage on shares of BioTime in a research report on Friday, September 23rd. They set a “buy” rating and a $6.00 price target on the stock.
BioTime (NYSEMKT:BTX) opened at 3.54 on Monday. BioTime has a 52-week low of $2.02 and a 52-week high of $4.51. The stock has a 50 day moving average of $3.47 and a 200 day moving average of $3.04. The stock’s market capitalization is $359.90 million.
BioTime (NYSEMKT:BTX) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.43. The company had revenue of $1.27 million for the quarter, compared to analyst estimates of $1.75 million. On average, equities research analysts forecast that BioTime will post ($0.22) EPS for the current year.
Several hedge funds have recently made changes to their positions in the stock. Teachers Advisors Inc. boosted its stake in BioTime by 15.1% in the second quarter. Teachers Advisors Inc. now owns 92,984 shares of the company’s stock worth $243,000 after buying an additional 12,213 shares during the last quarter. Alliancebernstein L.P. boosted its stake in BioTime by 7.3% in the second quarter. Alliancebernstein L.P. now owns 52,600 shares of the company’s stock worth $137,000 after buying an additional 3,600 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in BioTime by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,928,118 shares of the company’s stock worth $5,032,000 after buying an additional 16,434 shares during the last quarter. BlackRock Fund Advisors boosted its stake in BioTime by 14.2% in the second quarter. BlackRock Fund Advisors now owns 1,675,378 shares of the company’s stock worth $4,373,000 after buying an additional 208,613 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in BioTime by 22.7% in the second quarter. BlackRock Investment Management LLC now owns 232,927 shares of the company’s stock worth $608,000 after buying an additional 43,118 shares during the last quarter.
BioTime Company Profile
BioTime, Inc is a clinical-stage biotechnology company. The Company is focused on the field of regenerative medicine, specifically pluripotent stem cell technology. The Company is engaged in the research and development of therapeutic products for oncology, orthopedics, retinal and neurological diseases and disorders, blood and vascular system diseases and disorders, blood plasma volume expansion, diagnostic products for the early detection of cancer, and hydrogel products that may be used in surgery and products for human embryonic stem cell research.
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