BioTime (BTX) Issues Earnings Results

BioTime (NYSEAMERICAN:BTX) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07), Morningstar.com reports. The firm had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.74 million.

NYSEAMERICAN BTX opened at $1.55 on Friday. BioTime has a one year low of $0.66 and a one year high of $2.81.

A number of research firms have issued reports on BTX. Maxim Group reiterated a “buy” rating and issued a $3.00 price objective on shares of BioTime in a report on Wednesday, January 30th. Dawson James began coverage on BioTime in a report on Thursday, February 7th. They set a “buy” rating for the company. Zacks Investment Research upgraded BioTime from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a report on Thursday, January 3rd. Oppenheimer began coverage on BioTime in a report on Tuesday, December 11th. They set an “outperform” rating and a $3.50 price target for the company. Finally, HC Wainwright began coverage on BioTime in a report on Thursday, February 21st. They set a “buy” rating and a $4.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $3.05.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in BioTime by 1.3% in the 4th quarter. BlackRock Inc. now owns 6,179,281 shares of the biotechnology company’s stock worth $5,642,000 after buying an additional 76,814 shares in the last quarter. Vanguard Group Inc increased its holdings in BioTime by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 4,467,698 shares of the biotechnology company’s stock worth $10,499,000 after buying an additional 27,841 shares in the last quarter. Defender Capital LLC. bought a new stake in BioTime in the 4th quarter worth about $3,629,000. Geode Capital Management LLC increased its holdings in BioTime by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 1,227,540 shares of the biotechnology company’s stock worth $1,120,000 after buying an additional 37,279 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in BioTime by 5.2% in the 2nd quarter. Northern Trust Corp now owns 1,016,226 shares of the biotechnology company’s stock worth $2,094,000 after buying an additional 49,778 shares in the last quarter.

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BioTime Company Profile

BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing products addressing degenerative diseases based on pluripotent stem cells and HyStem cell/drug delivery platform technologies primarily in the United States and Israel. 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; and Renevia, a facial aesthetics product that is in pivotal clinical trial for the treatment of HIV-associated facial lipoatrophy.

See Also: Understanding Price to Earnings Ratio (PE)

Earnings History for BioTime (NYSEAMERICAN:BTX)

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