HC Wainwright Reiterates Buy Rating for Lineage Cell Therapeutics (NYSEAMERICAN:LCTX)

Key Points

• HC Wainwright reiterated a Buy rating on Lineage with a $9.00 price target; D. Boral Capital raised its target to $3.00 and the consensus analyst rating is Buy with a $6.00 average price target.
• Shares traded at $1.45 (1‑year range $0.37–$2.09) with a market cap around $360M; the company remains unprofitable with a negative net margin and P/E despite beating the quarter with $0.00 EPS and $6.61M revenue.
• Institutional investors hold roughly 62.47% of the stock, with recent new or increased stakes from ExodusPoint, RBC, Raymond James, Hudson Bay and others.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $9.00 price target on the stock.

Separately, D. Boral Capital lifted their target price on Lineage Cell Therapeutics from $2.00 to $3.00 and gave the company a "buy" rating in a report on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $6.00.

Lineage Cell Therapeutics Price Performance

Shares of LCTX stock traded down $0.03 during trading on Tuesday, reaching $1.45. The company's stock had a trading volume of 270,924 shares, compared to its average volume of 1,157,230. Lineage Cell Therapeutics has a 1-year low of $0.37 and a 1-year high of $2.09. The stock's 50-day moving average price is $1.70 and its 200 day moving average price is $1.69. The company has a market capitalization of $359.94 million, a price-to-earnings ratio of -5.16 and a beta of 1.73.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX - Get Free Report) last released its earnings results on Thursday, March 5th. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.07. The company had revenue of $6.61 million for the quarter, compared to analyst estimates of $1.96 million. Lineage Cell Therapeutics had a negative net margin of 436.47% and a negative return on equity of 76.13%. On average, sell-side analysts anticipate that Lineage Cell Therapeutics will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Several institutional investors have recently modified their holdings of LCTX. ExodusPoint Capital Management LP acquired a new stake in Lineage Cell Therapeutics in the fourth quarter valued at $303,000. Royal Bank of Canada raised its position in shares of Lineage Cell Therapeutics by 1,578.9% during the 1st quarter. Royal Bank of Canada now owns 528,656 shares of the company's stock worth $237,000 after acquiring an additional 497,168 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Lineage Cell Therapeutics by 30.3% during the third quarter. Raymond James Financial Inc. now owns 90,381 shares of the company's stock worth $153,000 after purchasing an additional 21,001 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Lineage Cell Therapeutics in the fourth quarter valued at approximately $124,000. Finally, Rhumbline Advisers increased its stake in Lineage Cell Therapeutics by 9.9% in the first quarter. Rhumbline Advisers now owns 201,447 shares of the company's stock valued at $91,000 after purchasing an additional 18,092 shares during the last quarter. 62.47% of the stock is 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.

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