Maxim Group analyst Jason McCarthy maintained a Buy rating on BioTime (BTX) today and set a price target of $3. The company’s shares opened today at $1.57.
McCarthy observed:
“BioTime announced that its affiliate, OncoCyte (OCX – NR, BTX has 36% stake), reported positive results from an R&D validation study of DetermaVu, a non- invasive, liquid biopsy test for the early diagnosis of lung cancer. On this news, BioTime shares on 1/29 were up ~50%, OncoCyte shares were up over 200%, and even Asterias (AST – NR) shares, a cell therapy company soon to be fully acquired by BioTime, were up ~45%.”
According to TipRanks.com, McCarthy has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.4% and a 29.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Sonoma Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BioTime with a $3.25 average price target, which is a 107.0% upside from current levels. In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $3.50 price target.
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The company has a one-year high of $3.11 and a one-year low of $0.66. Currently, BioTime has an average volume of 760K.
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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.
