Stock analysts at Ladenburg Thalmann began coverage on shares of BioTime Inc. (NYSEMKT:BTX) in a report issued on Friday. The brokerage set a “buy” rating and a $6.00 price target on the stock. Ladenburg Thalmann’s target price indicates a potential upside of 51.13% from the stock’s current price.
Separately, Zacks Investment Research upgraded shares of BioTime from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Friday, August 12th.
BioTime (NYSEMKT:BTX) opened at 3.97 on Friday. The stock’s market cap is $403.62 million. BioTime has a 12-month low of $2.02 and a 12-month high of $4.51. The company’s 50 day moving average price is $3.22 and its 200-day moving average price is $2.92.
BioTime (NYSEMKT:BTX) last issued its earnings results on Tuesday, August 9th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.43. The company earned $1.27 million during the quarter, compared to analyst estimates of $1.75 million. On average, analysts forecast that BioTime will post ($0.26) EPS for the current year.
Large investors have recently made changes to their positions in the stock. Broadwood Capital Inc. raised its stake in shares of BioTime by 12.3% in the second quarter. Broadwood Capital Inc. now owns 24,897,032 shares of the company’s stock valued at $64,981,000 after buying an additional 2,732,636 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of BioTime during the second quarter valued at approximately $133,000. State Street Corp raised its stake in shares of BioTime by 12.6% in the second quarter. State Street Corp now owns 886,312 shares of the company’s stock valued at $2,312,000 after buying an additional 98,889 shares during the last quarter. Rhumbline Advisers raised its stake in shares of BioTime by 12.3% in the second quarter. Rhumbline Advisers now owns 48,181 shares of the company’s stock valued at $126,000 after buying an additional 5,270 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in shares of BioTime by 15.1% in the second quarter. Teachers Advisors Inc. now owns 92,984 shares of the company’s stock valued at $243,000 after buying an additional 12,213 shares during the last quarter.
BioTime Company Profile
BioTime, Inc is a clinical-stage biotechnology company. The Company is focused on the field of regenerative medicine, specifically pluripotent stem cell technology. The Company is engaged in the research and development of therapeutic products for 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.
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