HC Wainwright Reaffirms Buy Rating for Asterias Biotherapeutics (AST)

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HC Wainwright reissued their buy rating on shares of Asterias Biotherapeutics (NYSEAMERICAN:AST) in a report published on Wednesday. They currently have a $11.00 target price on the biotechnology company’s stock.

“Valuation methodology, risks and uncertainties. We use a sum-of- the-parts approach, which ascribes a $440M risk-adjusted net present value (rNPV) to the AST-OPC1 program in AST-VAC programs in NSCLC and prostate cancer.”,” the firm’s analyst commented.

A number of other equities research analysts also recently issued reports on AST. Zacks Investment Research raised Asterias Biotherapeutics from a hold rating to a buy rating and set a $1.50 price target for the company in a research report on Tuesday, July 10th. Raymond James downgraded Asterias Biotherapeutics from an outperform rating to a market perform rating in a research report on Friday, August 10th. Finally, B. Riley set a $6.00 price target on Asterias Biotherapeutics and gave the company a buy rating in a research report on Friday, August 3rd.

AST stock opened at $1.45 on Wednesday. Asterias Biotherapeutics has a 12-month low of $1.20 and a 12-month high of $3.74.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of Asterias Biotherapeutics in the second quarter worth about $663,000. Paloma Partners Management Co acquired a new position in shares of Asterias Biotherapeutics in the second quarter worth about $194,000. Renaissance Technologies LLC acquired a new position in shares of Asterias Biotherapeutics in the second quarter worth about $142,000. LMR Partners LLP acquired a new position in shares of Asterias Biotherapeutics in the second quarter worth about $110,000. Finally, Creative Planning lifted its stake in shares of Asterias Biotherapeutics by 50.0% in the second quarter. Creative Planning now owns 180,313 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 60,100 shares in the last quarter.

Asterias Biotherapeutics Company Profile

Asterias Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing cell-based therapeutics to treat neurological conditions associated with demyelination, and cellular immunotherapies to treat cancer. Its clinical stage programs include AST-OPC1, an oligodendrocyte progenitor cell population derived from pluripotent stem cells that is in Phase I/IIa clinical trial for spinal cord injuries; AST-VAC2 is a non-patient-specific cancer immunotherapy derived from pluripotent stem cells for the treatment of non-small cell lung cancer; and AST-VAC1, a patient-specific cancer immunotherapy that has completed Phase II clinical trial for the treatment of acute myeloid leukemia.

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