Maxim Group Initiates Coverage on Lineage Cell Therapeutics (NYSEAMERICAN:LCTX)

Analysts at Maxim Group began coverage on shares of Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) in a report issued on Friday, AnalystRatings.com reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Maxim Group’s target price would suggest a potential upside of 219.80% from the stock’s previous close.

A number of other brokerages have also recently commented on LCTX. Zacks Investment Research raised shares of Lineage Cell Therapeutics from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a report on Saturday, March 14th. HC Wainwright reaffirmed a “buy” rating on shares of Lineage Cell Therapeutics in a report on Wednesday, June 10th. Finally, Chardan Capital reaffirmed a “buy” rating on shares of Lineage Cell Therapeutics in a report on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $2.58.

LCTX stock opened at $0.94 on Friday. Lineage Cell Therapeutics has a twelve month low of $0.53 and a twelve month high of $1.67. The business’s 50 day moving average is $0.98.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.93 million.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Lineage Cell Therapeutics by 0.5% during the 1st quarter. BlackRock Inc. now owns 7,327,331 shares of the company’s stock worth $6,068,000 after purchasing an additional 35,350 shares in the last quarter. Defender Capital LLC. boosted its position in shares of Lineage Cell Therapeutics by 11.1% during the 1st quarter. Defender Capital LLC. now owns 4,416,590 shares of the company’s stock worth $3,657,000 after purchasing an additional 439,545 shares in the last quarter. State Street Corp boosted its position in shares of Lineage Cell Therapeutics by 1.4% during the 4th quarter. State Street Corp now owns 1,797,923 shares of the company’s stock worth $1,600,000 after purchasing an additional 24,016 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lineage Cell Therapeutics by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 1,677,519 shares of the company’s stock worth $1,389,000 after purchasing an additional 108,792 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Lineage Cell Therapeutics by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 495,777 shares of the company’s stock worth $441,000 after purchasing an additional 40,054 shares in the last quarter.

Lineage Cell Therapeutics Company Profile

Lineage Cell Therapeutics, 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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