BioStem Technologies (OTCMKTS:BSEM) Stock Price Up 2.3% – Time to Buy?

BioStem Technologies, Inc. (OTCMKTS:BSEM) shares rose 2.3% during mid-day trading on Tuesday . The company traded as high as $4.04 and last traded at $3.98. Approximately 95,602 shares were traded during trading, an increase of 183% from the average session volume of 33,738 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

Separately, HC Wainwright initiated coverage on shares of BioStem Technologies in a report on Wednesday, May 6th. They issued a “buy” rating and a $9.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $9.00.

BioStem Technologies Trading Up 2.3%

The company’s 50-day simple moving average is $3.86 and its 200 day simple moving average is $4.72. The stock has a market cap of $70.96 million, a P/E ratio of -3.57 and a beta of 0.11.

BioStem Technologies (OTCMKTS:BSEM) last released its earnings results on Thursday, May 14th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.24). The firm had revenue of $6.14 million during the quarter, compared to the consensus estimate of $5.70 million. Research analysts anticipate that BioStem Technologies, Inc. will post -1.95 earnings per share for the current fiscal year.

About BioStem Technologies

BioStem Technologies, Inc, a life sciences corporation, focuses on discovering, developing, and producing pharmaceutical and regenerative medicine products and services. It develops various biologic stem cell based alternative products, as a treatment for ailments, such as joint pain, tendon and ligament injuries, neurodegenerative, and autoimmune diseases. The company is also engages in the repackaging and distribution of active pharmaceutical ingredients and other pharmaceutical compounding supplies; and develops and markets nutraceutical products under the Dr.