Chardan Capital analyst Keay Nakae reiterated a Buy rating on Lineage Cell Therapeutics (LCTX) today and set a price target of $4.00. The company’s shares closed last Tuesday at $2.48.
According to TipRanks.com, Nakae is a 5-star analyst with an average return of 26.7% and a 49.6% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Sonnet BioTherapeutics Holdings, Arrowhead Pharmaceuticals, and Emergent Biosolutions.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lineage Cell Therapeutics with a $5.20 average price target, representing an 111.4% upside. In a report issued on March 30, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $6.00 price target.
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Based on Lineage Cell Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $355K and net profit of $2.03 million. In comparison, last year the company earned revenue of $1.24 million and had a GAAP net loss of $4.48 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is neutral on the stock.
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Lineage Cell Therapeutics, Inc. operates as a clinical-stage biotechnology company developing new cellular therapies for degenerative retinal diseases, neurological conditions associated with demyelination, and aiding the body in detecting and combating cancer. 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. The company’s cell and drug delivery programs are based upon its proprietary HyStem cell and drug delivery matrix technology. It engages in the research and development of regenerative medicine or therapeutic products for advancement in the field of 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. The company was founded by Judith Segall, Hal Sternberg, Paul E. Segall and Harold D. Waitz on November 30, 1990 and is headquartered in Alameda, CA.