Century Therapeutics (NASDAQ:IPSC) Releases Earnings Results, Beats Expectations By $0.12 EPS

Century Therapeutics (NASDAQ:IPSC) posted its earnings results on Thursday. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.12, Zacks reports. Century Therapeutics had a negative net margin of 9,742.41% and a negative return on equity of 59.74%. The company had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.55 million.

Century Therapeutics Stock Down 4.4 %

Century Therapeutics stock traded down $0.08 during trading hours on Friday, hitting $1.72. The stock had a trading volume of 272,387 shares, compared to its average volume of 215,346. The business’s 50 day simple moving average is $2.58 and its 200-day simple moving average is $3.40. Century Therapeutics has a one year low of $1.28 and a one year high of $5.51. The stock has a market cap of $145.34 million, a price-to-earnings ratio of -0.78 and a beta of 1.39.

Analysts Set New Price Targets

Several research firms have issued reports on IPSC. Piper Sandler lifted their price target on Century Therapeutics from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Rodman & Renshaw began coverage on Century Therapeutics in a report on Thursday. They issued a “buy” rating and a $6.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Century Therapeutics in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Century Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $11.60.

Century Therapeutics Company Profile

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.