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.

While we acknowledge the potential of Lineage Cell Therapeutics Inc. (NYSE:LCTX) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LCTX and that has 100x upside potential, check out our report about the cheapest AI stock.

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