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Maxim Group Sticks to Its Buy Rating for Lineage Cell Therapeutics (LCTX)

Maxim Group analyst Jason McCarthy reiterated a Buy rating on Lineage Cell Therapeutics (LCTXResearch Report) yesterday and set a price target of $5.00. The company’s shares closed yesterday at $1.57.

McCarthy covers the Healthcare sector, focusing on stocks such as Atossa Therapeutics, Capricor Therapeutics, and Biocept. According to TipRanks, McCarthy has an average return of -37.6% and a 16.55% success rate on recommended stocks.

Currently, the analyst consensus on Lineage Cell Therapeutics is a Strong Buy with an average price target of $5.50, which is a 250.32% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.

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LCTX market cap is currently $266.5M and has a P/E ratio of -5.24.

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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.

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