Zacks Investment Research Downgrades Lineage Cell Therapeutics (NASDAQ:LCTX) to Sell

Lineage Cell Therapeutics (NASDAQ:LCTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Lineage Cell Therapeutics Inc. is a clinical-stage biotechnology company. It focuses on developing and commercializing therapies for the treatment of degenerative diseases primarily in the United States and internationally. The company’s lead product candidates include OpRegen, OPC1 and VAC2 which are in clinical stage. Lineage Cell Therapeutics Inc., formerly known as BioTime Inc., is based in Carlsbad, California. “

Other equities analysts have also recently issued reports about the stock. Maxim Group set a $3.00 price objective on shares of Lineage Cell Therapeutics and gave the stock a “buy” rating in a research note on Friday, August 9th. Chardan Capital restated a “buy” rating on shares of Lineage Cell Therapeutics in a report on Thursday, August 22nd.

LCTX opened at $0.94 on Thursday. The company’s fifty day moving average is $0.97. Lineage Cell Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $2.18.

Lineage Cell Therapeutics (NASDAQ:LCTX) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $0.78 million for the quarter, compared to the consensus estimate of $1.04 million.

Lineage Cell Therapeutics Company Profile

Lineage Cell Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. The company's lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.

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