BioTime Stock: “Buy” Ratings Abound, Should You Take Note?

BioTime Stock

BioTime stock is currently selling for $1.18 USD on the NYSE American exchange. At the time of writing, shares are down nearly 5%. Despite a rough few trading days, BTX stock has a consensus rating of “Buy” from six analysts.

So let’s check this out.

BioTime Stock

BioTime Inc (NYSE:BTX) is a clinical-stage biotechnology company developing treatments for several degenerative diseases. Headquartered in California, the company’s flagship products include OpRegen, a treatment aimed at macular degeneration of the eye, which is synonymous with the elderly, OPC1, which is a treatment for acute spinal cord injuries, and VAC2, a treatment aimed at non-small cell lung cancer.

OpRegen and OPC1 are both in trial Phase I/IIa, and VAC2 is in Phase I.

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BioTime Stock on the Rise

Despite a volatile April, BioTime stock has gained 35.82% since the beginning of the year. Further, it has a consensus price target of $4.86—more than 400% of its current value. Analysts are screaming “Buy” on this stock, and it could be because the company showed promise in its most recent earnings results in March.

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The biotechnology company reported $0.07 earnings per share, which matched the consensus estimate. Further, it had revenue of $0.76 million for the quarter, which beat analysts’ expectations of $0.74 million.

Now, it is set to announce its latest earnings results after the market closes tomorrow, Thursday, May 9.

Major Institutional Investors Boost Stake

With major institutional investors reportedly upping their stake in BioTime, investors are being given plenty of signs. The following investors recently increased their holdings of BioTime stock:

  • BlackRock Inc boosted holdings by 3.1% in Q3
  • Geode Capital Management increased holdings by 3.1% in Q4
  • Virtu Financial boosted holdings by a whopping 165.4% in Q4; the company increased its stake to 34,884 shares.

Other boosts include Teachers Advisors LLC (20%), Vanguard Group (0.6%), and Rhumbline Advisers (43.7%).

So with analysts bullish on BioTime stock and a consensus price target 400% above its current value, it could be safe to assume BTX shares are showing undervalued signals.

What do you think?

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