In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on BioTime (BTX), with a price target of $4. The company’s shares closed yesterday at $0.99, close to its 52-week low of $0.66.
Pantginis wrote:
“Valuation and risks to price target achievement. We reiterate our 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 Renevia (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 ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.5% and a 29.5% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.
BioTime has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.
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Based on BioTime’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $39.31 million. In comparison, last year the company had a GAAP net loss of $4.22 million.
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BioTime, 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.
