Stock Buyback Plan Declared by Biorestorative Therapies (NASDAQ:BRTX)

Biorestorative Therapies (NASDAQ:BRTX) declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 17th, RTT News reports. The company plans to buyback $2.00 million in shares. This buyback authorization authorizes the company to reacquire up to 15.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Biorestorative Therapies Trading Up 6.2%

Biorestorative Therapies stock opened at $1.72 on Wednesday. Biorestorative Therapies has a 12 month low of $1.21 and a 12 month high of $2.55. The business’s fifty day simple moving average is $1.75 and its two-hundred day simple moving average is $1.78. The company has a market capitalization of $12.90 million, a price-to-earnings ratio of -1.17 and a beta of 76.75.

Biorestorative Therapies (NASDAQ:BRTX) last issued its earnings results on Wednesday, May 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.24). Biorestorative Therapies had a negative return on equity of 129.47% and a negative net margin of 3,093.61%. The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.38 million. On average, equities research analysts predict that Biorestorative Therapies will post -1.43 EPS for the current year.

Biorestorative Therapies Company Profile

BioRestorative Therapies, Inc, a life sciences company, focuses on the development of regenerative medicine products and therapies using cell and tissue protocols primarily involving adult stem cells. The company's two core developmental programs relate to the treatment of disc/spine disease and metabolic disorders.