In a report released yesterday, Jason McCarthy from Maxim Group reiterated a Buy rating on Lineage Cell Therapeutics (LCTX), with a price target of $3.00. The company’s shares closed last Tuesday at $1.30.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 31.9% and a 50.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and Interpace Diagnostics Group.
Currently, the analyst consensus on Lineage Cell Therapeutics is a Strong Buy with an average price target of $4.50, which is a 238.3% upside from current levels. In a report issued on November 5, Chardan Capital also reiterated a Buy rating on the stock with a $4.00 price target.
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Based on Lineage Cell Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $571K and GAAP net loss of $7.76 million. In comparison, last year the company earned revenue of $567K and had a GAAP net loss of $16.51 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LCTX in relation to earlier this year.
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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.
