B. Riley Financial Issues Positive Forecast for Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Price

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) had its price target upped by B. Riley Financial from $3.00 to $4.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. D. Boral Capital raised their price objective on shares of Lineage Cell Therapeutics from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Friday, March 6th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Lineage Cell Therapeutics in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $5.33.

Lineage Cell Therapeutics Stock Up 4.7%

LCTX stock opened at $1.55 on Wednesday. The company has a 50-day simple moving average of $1.69 and a 200 day simple moving average of $1.69. The company has a market capitalization of $386.09 million, a P/E ratio of -5.54 and a beta of 1.74. Lineage Cell Therapeutics has a fifty-two week low of $0.37 and a fifty-two week high of $2.09.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last released its earnings results on Thursday, March 5th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.07. Lineage Cell Therapeutics had a negative net margin of 436.47% and a negative return on equity of 76.13%. The firm had revenue of $6.61 million for the quarter, compared to analysts’ expectations of $1.96 million. Equities analysts anticipate that Lineage Cell Therapeutics will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Defender Capital LLC. acquired a new stake in shares of Lineage Cell Therapeutics during the fourth quarter worth $11,405,000. Marshall Wace LLP purchased a new position in shares of Lineage Cell Therapeutics in the fourth quarter worth approximately $2,275,000. Goldman Sachs Group Inc. lifted its position in shares of Lineage Cell Therapeutics by 894.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,438,746 shares of the company’s stock valued at $2,403,000 after acquiring an additional 1,294,070 shares in the last quarter. Jane Street Group LLC boosted its stake in Lineage Cell Therapeutics by 494.7% in the 4th quarter. Jane Street Group LLC now owns 1,004,794 shares of the company’s stock worth $1,678,000 after purchasing an additional 835,831 shares during the period. Finally, Vanguard Group Inc. raised its stake in Lineage Cell Therapeutics by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,006,930 shares of the company’s stock valued at $15,222,000 after purchasing an additional 524,057 shares during the period. Institutional investors own 62.47% of the company’s stock.

About Lineage Cell Therapeutics

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.