Brokerages Set $38.00 Target Price for Cellular Biomedicine Group Inc (CBMG)

Cellular Biomedicine Group Inc (NASDAQ:CBMG) has been given a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Brokerages have set a 12-month consensus price target of $38.00 for the company and are predicting that the company will post ($0.50) EPS for the current quarter, according to Zacks. Zacks has also assigned Cellular Biomedicine Group an industry rank of 51 out of 256 based on the ratings given to its competitors.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Cellular Biomedicine Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Friday, October 5th. BidaskClub downgraded Cellular Biomedicine Group from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Finally, B. Riley lifted their price target on Cellular Biomedicine Group from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 3rd.

Shares of Cellular Biomedicine Group stock traded down $0.40 during midday trading on Friday, hitting $17.87. The company had a trading volume of 1,390 shares, compared to its average volume of 104,428. The firm has a market capitalization of $349.35 million, a P/E ratio of -9.87 and a beta of 3.22. Cellular Biomedicine Group has a 12-month low of $12.04 and a 12-month high of $25.00.

Cellular Biomedicine Group (NASDAQ:CBMG) last posted its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.04). The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.05 million. Cellular Biomedicine Group had a negative return on equity of 44.62% and a negative net margin of 13,988.39%. As a group, analysts anticipate that Cellular Biomedicine Group will post -1.74 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in shares of Cellular Biomedicine Group during the third quarter worth $188,000. Rhumbline Advisers purchased a new stake in shares of Cellular Biomedicine Group during the second quarter worth approximately $208,000. Wells Fargo & Company MN raised its position in Cellular Biomedicine Group by 29.7% in the third quarter. Wells Fargo & Company MN now owns 17,946 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 4,114 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in Cellular Biomedicine Group in the second quarter worth $423,000. Finally, Bank of New York Mellon Corp grew its holdings in Cellular Biomedicine Group by 208.1% in the second quarter. Bank of New York Mellon Corp now owns 34,579 shares of the biotechnology company’s stock valued at $676,000 after purchasing an additional 23,354 shares during the last quarter. Institutional investors own 8.79% of the company’s stock.

Cellular Biomedicine Group Company Profile

Cellular Biomedicine Group, Inc, a clinical stage biopharmaceutical company, develops therapies for cancer and degenerative diseases in Greater China. It focuses on developing and marketing cell-based therapies to treat various diseases, such as cancer, orthopedic, and metabolic diseases. The company develops treatments utilizing proprietary cell based technologies, including immune cell therapy for the treatment of a range of cancers; human adipose-derived mesenchymal progenitor cells for the treatment of joint and autoimmune diseases; tumor cell specific dendritic cell therapy; and Re-Join therapy and AlloJoin therapy for the treatment of knee osteoarthritis.

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