H.C. Wainwright Initiates a Buy Rating on BioTime (BTX)


H.C. Wainwright analyst Joseph Pantginis initiated coverage with a Buy rating on BioTime (BTX) today and set a price target of $4. The company’s shares closed yesterday at $1.15.

Pantginis said:

“Valuation and risks to price target achievement. We are instituting a Buy rating and $4 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Our valuation is currently based on the opportunities for OpRegen (approximately 57% valuation contribution) on only the U.S. opportunity and Revevia (43% valuation contribution) in the E.U. We note that our current projected values for both these assets are based on minimal market penetration in very large markets.”

According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -19.9% and a 26.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Dova Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for BioTime with a $3.50 average price target, representing a 204.3% upside. In a report issued on February 15, Maxim Group also maintained a Buy rating on the stock with a $3 price target.

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The company has a one-year high of $2.90 and a one-year low of $0.66. Currently, BioTime has an average volume of 918.7K.

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BioTime, Inc. is a clinical-stage biotechnology company, which deals with degenerative diseases. The company’s programs are based on two core proprietary technology platforms: cell replacement and cell and drug delivery. Its cell replacement platform creates new cells and tissues with its pluripotent and progenitor cell technologies.

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