H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Asterias Biotherapeutics (NYSE: AST) today and set a price target of $11. The company’s shares closed yesterday at $1.40, close to its 52-week low of $1.20.
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 1.7% and a 45.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Asterias Biotherapeutics is a Moderate Buy with an average price target of $8.50.
Based on Asterias Biotherapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.98 million. In comparison, last year the company had a GAAP net loss of $8.73 million.
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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.