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H.C. Wainwright Sticks to Its Buy Rating for Asterias Biotherapeutics (AST)


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Asterias Biotherapeutics (NYSE: AST), with a price target of $11. The company’s shares closed yesterday at $1.21, close to its 52-week low of $1.07.

Selvaraju wrote:

“Valuation methodology, risks and uncertainties. We use a sum-of- the-parts approach, which ascribes a $440M risk-adjusted net present value (rNPV) to AST-VAC programs in NSCLC and prostate cancer.”

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of 0.0% and a 35.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Synergy Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Asterias Biotherapeutics with a $8.50 average price target.

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The company has a one-year high of $3.40 and a one-year low of $1.07. Currently, Asterias Biotherapeutics has an average volume of 167.1K.

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Asterias Biotherapeutics, Inc. is a clinical-stage biotechnology company, which is focused on developing and commercializing novel therapies in the emerging fields of cell therapy and regenerative medicine. The company is also focused on developing therapies to treat conditions with unmet medical needs and inadequate available therapies, with an initial focus on the therapeutic areas of oncology and neurology. Its product candidates include AST-OPC1, trial for spinal cord injuries; AST-VAC1, a patient specific cancer immunotherapy focused on acute myeloid leukemia; and AST-VAC2, a non-patient-specific cancer immunotherapy for non-small cell lung cancer. The company was founded on September 24, 2012 and is headquartered in Fremont, CA.