H.C. Wainwright Keeps a Buy Rating on Lineage Cell Therapeutics (LCTX)

By Austin Angelo

In a report released yesterday, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Lineage Cell Therapeutics (LCTXResearch Report), with a price target of $7.00. The company’s shares closed last Tuesday at $2.57.

According to TipRanks.com, Pantginis is a top 25 analyst with an average return of 55.4% and a 70.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lineage Cell Therapeutics with a $5.33 average price target, which is a 109.0% upside from current levels. In a report issued on February 8, Maxim Group also assigned a Buy rating to the stock with a $5.00 price target.

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The company has a one-year high of $3.13 and a one-year low of $0.58. Currently, Lineage Cell Therapeutics has an average volume of 1.77M.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LCTX in relation to earlier this year.

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Lineage Cell Therapeutics, Inc. operates as a clinical-stage biotechnology company developing new cellular therapies for degenerative retinal diseases, neurological conditions associated with demyelination, and aiding the body in detecting and combating cancer. The company’s programs are based on two core proprietary technology platforms: cell replacement and cell and drug delivery. Its cell replacement platform creates new cells and tissues with its pluripotent and progenitor cell technologies. The company’s cell and drug delivery programs are based upon its proprietary HyStem cell and drug delivery matrix technology. It engages in the research and development of regenerative medicine or therapeutic products for advancement in the field of oncology, orthopedics, retinal and neurological diseases and disorders, blood and vascular system diseases and disorders, blood plasma volume expansion, diagnostic products for the early detection of cancer and hydrogel products that may be used in surgery and products for human embryonic stem cell research. The company was founded by Judith Segall, Hal Sternberg, Paul E. Segall and Harold D. Waitz on November 30, 1990 and is headquartered in Alameda, CA.