BioTime, Inc. (NYSEMKT:BTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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 assumed coverage on BioTime in a research note on Friday, September 23rd. They issued a “buy” rating and a $6.00 price objective on the stock.
BioTime (NYSEMKT:BTX) opened at 3.54 on Monday. The company’s market capitalization is $359.90 million. The stock’s 50 day moving average is $3.47 and its 200 day moving average is $3.04. BioTime has a 52 week low of $2.02 and a 52 week high of $4.51.
BioTime (NYSEMKT:BTX) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.43. The firm had revenue of $1.27 million for the quarter, compared to the consensus estimate of $1.75 million. Analysts predict that BioTime will post ($0.22) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of BTX. Geode Capital Management LLC raised its position in shares of BioTime by 0.9% in the first quarter. Geode Capital Management LLC now owns 357,921 shares of the company’s stock worth $1,027,000 after buying an additional 3,101 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of BioTime by 7.3% in the second quarter. Alliancebernstein L.P. now owns 52,600 shares of the company’s stock valued at $137,000 after buying an additional 3,600 shares during the period. Williams Jones & Associates LLC increased its stake in shares of BioTime by 9.0% in the first quarter. Williams Jones & Associates LLC now owns 60,450 shares of the company’s stock valued at $173,000 after buying an additional 5,000 shares during the period. Rhumbline Advisers increased its stake in shares of BioTime by 12.3% in the second quarter. Rhumbline Advisers now owns 48,181 shares of the company’s stock valued at $126,000 after buying an additional 5,270 shares during the period. Finally, Teachers Advisors Inc. increased its stake in shares of BioTime by 15.1% in the second quarter. Teachers Advisors Inc. now owns 92,984 shares of the company’s stock valued at $243,000 after buying an additional 12,213 shares during the period.
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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