Zacks Investment Research upgraded shares of Asterias Biotherapeutics Inc (NYSE:AST) from a hold rating to a buy rating in a research note published on Wednesday. The brokerage currently has $2.75 price target on the biotechnology company’s stock.
According to Zacks, “Asterias Biotherapeutics, Inc. is a biotechnology company. It is focused on the field of regenerative medicine. The Company’s technologies center on stem cells capable of becoming all of the cell types in the human body, a property called pluripotency. It develops therapies based on pluripotent stem cells to treat diseases or injuries in a variety of medical fields, with an initial focus on the therapeutic areas of neurology and oncology. Asterias Biotherapeutics, Inc. is based in Menlo Park, California. “
Separately, HC Wainwright set a $12.00 target price on shares of Asterias Biotherapeutics and gave the stock a buy rating in a report on Wednesday, August 16th.
Shares of Asterias Biotherapeutics (NYSE:AST) opened at 2.55 on Wednesday. The stock’s market capitalization is $127.44 million. The company’s 50-day moving average is $3.12 and its 200 day moving average is $3.29. Asterias Biotherapeutics has a 12 month low of $2.45 and a 12 month high of $5.80.
Asterias Biotherapeutics (NYSE:AST) last announced its earnings results on Monday, August 14th. The biotechnology company reported ($0.18) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.18). The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $1.25 million. Asterias Biotherapeutics had a negative net margin of 2,762.03% and a negative return on equity of 86.25%. Equities research analysts predict that Asterias Biotherapeutics will post ($0.61) earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the company. Family Management Corp grew its stake in shares of Asterias Biotherapeutics by 15.6% during the second quarter. Family Management Corp now owns 47,424 shares of the biotechnology company’s stock worth $168,000 after acquiring an additional 6,416 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Asterias Biotherapeutics by 4.6% during the second quarter. California State Teachers Retirement System now owns 47,764 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 2,100 shares during the last quarter. State Street Corp grew its stake in shares of Asterias Biotherapeutics by 24.1% during the second quarter. State Street Corp now owns 328,717 shares of the biotechnology company’s stock worth $1,169,000 after acquiring an additional 63,773 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Asterias Biotherapeutics by 13.1% during the second quarter. Teachers Advisors LLC now owns 58,028 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 6,714 shares during the last quarter.
Asterias Biotherapeutics Company Profile
Asterias Biotherapeutics, Inc is a biotechnology company. The Company is engaged in developing and commercializing therapies in the fields of cell therapy and regenerative medicine. The Company has over two technology platforms. The first is an immunotherapy platform to teach cancer patients’ immune systems to attack their tumors.
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