BioTime (BTX) Downgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of BioTime (NYSEAMERICAN:BTX) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “BioTime, Inc. is a clinical-stage biotechnology company focused on developing and commercializing novel therapies in the field of regenerative medicine. The foundation of its core therapeutic technology platform is pluripotent cells that are capable of becoming any of the cell types in the human body. BioTime’s research and other activities have resulted, over time, in the creation of other subsidiaries that address other non-therapeutic market opportunities such as cancer diagnostics, drug development and cell research products, and mobile health software applications. “

A number of other analysts also recently issued reports on BTX. CIBC started coverage on shares of BioTime in a report on Tuesday, December 11th. They issued an outperform rating and a $3.50 price target on the stock. Oppenheimer started coverage on shares of BioTime in a research note on Tuesday, December 11th. They issued an outperform rating and a $3.50 price objective for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $4.06.

Shares of NYSEAMERICAN BTX opened at $1.13 on Tuesday. BioTime has a 52-week low of $0.66 and a 52-week high of $3.16.

BioTime (NYSEAMERICAN:BTX) last announced its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $0.98 million for the quarter, compared to the consensus estimate of $0.75 million.

Several large investors have recently modified their holdings of BTX. Destination Wealth Management purchased a new position in shares of BioTime in the 3rd quarter worth $1,237,000. BlackRock Inc. grew its stake in shares of BioTime by 3.1% in the 3rd quarter. BlackRock Inc. now owns 6,102,467 shares of the biotechnology company’s stock worth $14,340,000 after buying an additional 185,826 shares in the last quarter. Bridgeway Capital Management Inc. grew its stake in shares of BioTime by 1,066.5% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 190,700 shares of the biotechnology company’s stock worth $448,000 after buying an additional 174,352 shares in the last quarter. Jefferies Group LLC grew its stake in shares of BioTime by 273.0% in the 3rd quarter. Jefferies Group LLC now owns 117,571 shares of the biotechnology company’s stock worth $276,000 after buying an additional 86,049 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of BioTime by 5.2% in the 2nd quarter. Northern Trust Corp now owns 1,016,226 shares of the biotechnology company’s stock worth $2,094,000 after buying an additional 49,778 shares in the last quarter.

About BioTime

BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing products addressing degenerative diseases based on pluripotent stem cells and HyStem cell/drug delivery platform technologies primarily in the United States and Israel. The company's lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; and Renevia, a facial aesthetics product that is in pivotal clinical trial for the treatment of HIV-associated facial lipoatrophy.

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