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Noble Financial Sticks to Its Buy Rating for Lineage Cell Therapeutics (LCTX)

Noble Financial analyst Robert LeBoyer reiterated a Buy rating on Lineage Cell Therapeutics (LCTXResearch Report) today and set a price target of $9.00. The company’s shares closed last Friday at $1.57.

According to TipRanks, LeBoyer is a 4-star analyst with an average return of 11.5% and a 33.83% success rate. LeBoyer covers the Healthcare sector, focusing on stocks such as Ayala Pharmaceuticals, Tonix Pharma, and PDS Biotechnology.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lineage Cell Therapeutics with a $6.20 average price target, which is a 294.90% upside from current levels. In a report released on August 12, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.

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Based on Lineage Cell Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.24 million and a GAAP net loss of $7.09 million. In comparison, last year the company earned a revenue of $293 thousand and had a GAAP net loss of $1.42 million

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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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