Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Earns Buy Rating from Analysts at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group assumed coverage on shares of Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 480.65% from the stock’s previous close.

Several other brokerages have also weighed in on LCTX. B. Riley Financial lifted their price target on Lineage Cell Therapeutics from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Lineage Cell Therapeutics in a research note on Tuesday, March 24th. Finally, D. Boral Capital lifted their price target on Lineage Cell Therapeutics from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Lineage Cell Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $6.25.

Lineage Cell Therapeutics Price Performance

Shares of LCTX stock opened at $1.55 on Tuesday. The stock has a market cap of $386.09 million, a PE ratio of -5.54 and a beta of 1.79. The business has a 50-day simple moving average of $1.65 and a 200-day simple moving average of $1.69. Lineage Cell Therapeutics has a 52-week low of $0.43 and a 52-week high of $2.09.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.07. Lineage Cell Therapeutics had a negative return on equity of 76.13% and a negative net margin of 436.47%.The firm had revenue of $6.61 million during the quarter, compared to analyst estimates of $1.96 million. Sell-side analysts anticipate that Lineage Cell Therapeutics will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Several large investors have recently bought and sold shares of LCTX. SG Americas Securities LLC purchased a new stake in Lineage Cell Therapeutics during the 4th quarter worth approximately $25,000. Citizens Financial Group Inc. RI purchased a new stake in Lineage Cell Therapeutics during the 3rd quarter worth approximately $25,000. Jump Financial LLC purchased a new stake in Lineage Cell Therapeutics during the 2nd quarter worth approximately $28,000. DLD Asset Management LP purchased a new stake in Lineage Cell Therapeutics during the 4th quarter worth approximately $33,000. Finally, Define Financial LLC purchased a new stake in Lineage Cell Therapeutics during the 4th quarter worth approximately $33,000. 62.47% of the stock is currently owned by hedge funds and other institutional investors.

Lineage Cell Therapeutics Company Profile

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, allogeneic cell therapies built on pluripotent stem cell platforms. The company focuses on three primary therapeutic areas—retinal disease, neural repair and immune-effector cell oncology—leveraging its proprietary manufacturing processes to create off-the-shelf cell therapy candidates designed for broad patient populations.

Its lead candidate, OpRegen, comprises retinal pigment epithelium cells intended to slow or reverse vision loss in patients with geographic atrophy secondary to age-related macular degeneration.