BioTime (BTX) Shares Down 5.8%
BioTime, Inc. (NYSEAMERICAN:BTX)’s share price fell 5.8% during mid-day trading on Monday . The stock traded as low as $1.11 and last traded at $1.14. 587,290 shares traded hands during trading, a decline of 34% from the average session volume of 889,811 shares. The stock had previously closed at $1.21.
Several research firms have issued reports on BTX. Zacks Investment Research downgraded shares of BioTime from a “strong-buy” rating to a “hold” rating in a report on Tuesday. HC Wainwright set a $4.00 price objective on shares of BioTime and gave the company a “buy” rating in a report on Thursday, May 2nd. Raymond James decreased their price objective on shares of BioTime from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Maxim Group set a $3.00 price objective on shares of BioTime and gave the company a “buy” rating in a report on Friday, February 15th. Finally, Dawson James began coverage on shares of BioTime in a report on Thursday, February 7th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. BioTime presently has an average rating of “Buy” and a consensus target price of $3.46.
BioTime (NYSEAMERICAN:BTX) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.36. The business had revenue of $0.93 million during the quarter, compared to analysts’ expectations of $0.66 million.
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About BioTime (NYSEAMERICAN:BTX)
BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. 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; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.
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