HC Wainwright Affirms Buy Rating on Lineage Cell Therapeutics Inc. (LCTX) amid Type 1 Diabetes Push

Lineage Cell Therapeutics Inc. (NYSE:LCTX) is one of the best performing penny stocks to buy now. On September 9, HC Wainwright reiterated a ‘Buy’ rating on the stock and a $9 price target, buoyed by the stock’s impressive run year to date.

In addition, the buy rating affirms the research firm’s confidence in the company’s long-term prospects as it pursues a new initiative in treating Type 1 diabetes. Lineage Cell Therapeutics has already announced plans to develop a new islet cell transplant program for Type 1 Diabetes.

The program is to leverage the company’s extensive experience in embryonic and cell line manipulation. According to HC Wainwright, the proposed Type 1 initiative could ultimately impact hypofunctional cell development, leading to functional cures based on early data from islets.

Lineage Cell Therapeutics Inc. (NYSE:LCTX) is a clinical-stage biotechnology company that develops and manufactures specialized, “off-the-shelf” cell therapies to treat serious neurological and ophthalmic (eye) conditions, as well as Type 1 Diabetes.

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Disclosure: None. This article is originally published at Insider Monkey.