BioTime initiated with an Outperform at Oppenheimer. Oppenheimer analyst Kevin DeGeeter started BioTime with an Outperform rating and $3.50 price target. New management is transforming BioTime from a holding company of multiple technology platforms to a product development company “committed to allocating necessary resources to the most promising drug,” OpRegen for the treatment of dry age-related macular degeneration, DeGeeter tells investors in a research note. He expects OpRegen to have peak end-market revenue of $1.3B.
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