Maxim Group assumed coverage on shares of Athersys (NASDAQ:ATHX) in a report released on Monday. The brokerage issued a buy rating and a $6.00 price objective on the biopharmaceutical company’s stock.
“Athersys and the University of Texas Health Science Center at Houston (UTHealth) announced plans to initiate a P2 study of MultiStem for the treatment and prevention of complications after severe traumatic injury. $3.5M in grant funding will be used to support the study.”,” Maxim Group’s analyst wrote.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Athersys from a hold rating to a buy rating and set a $2.25 price target on the stock in a research report on Tuesday, April 17th. ValuEngine raised Athersys from a sell rating to a hold rating in a research report on Thursday, March 22nd.
Shares of ATHX stock opened at $2.01 on Monday. Athersys has a twelve month low of $1.29 and a twelve month high of $2.63.
Athersys (NASDAQ:ATHX) last issued its quarterly earnings data on Tuesday, March 13th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). The company had revenue of $1.17 million during the quarter, compared to the consensus estimate of $0.42 million. Athersys had a negative net margin of 869.50% and a negative return on equity of 123.22%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. equities research analysts predict that Athersys will post -0.34 EPS for the current year.
In other Athersys news, EVP John J. Harrington sold 15,000 shares of Athersys stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $1.84, for a total value of $27,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider William Lehmann, Jr. sold 14,000 shares of Athersys stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $1.89, for a total value of $26,460.00. Following the completion of the transaction, the insider now directly owns 481,973 shares in the company, valued at $910,928.97. The disclosure for this sale can be found here. Insiders own 9.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in Athersys by 11.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 318,038 shares of the biopharmaceutical company’s stock worth $656,000 after buying an additional 33,498 shares during the period. Wells Fargo & Company MN increased its position in shares of Athersys by 35.3% during the third quarter. Wells Fargo & Company MN now owns 167,176 shares of the biopharmaceutical company’s stock valued at $345,000 after purchasing an additional 43,600 shares during the period. Perkins Capital Management Inc. increased its position in shares of Athersys by 17.7% during the fourth quarter. Perkins Capital Management Inc. now owns 363,375 shares of the biopharmaceutical company’s stock valued at $658,000 after purchasing an additional 54,650 shares during the period. SG Americas Securities LLC bought a new stake in shares of Athersys during the fourth quarter valued at approximately $108,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Athersys by 345.5% during the second quarter. The Manufacturers Life Insurance Company now owns 88,561 shares of the biopharmaceutical company’s stock valued at $134,000 after purchasing an additional 68,680 shares during the period. 19.31% of the stock is currently owned by institutional investors.
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Athersys Company Profile
Athersys, Inc is an international biotechnology company that is focused primarily in the field of regenerative medicine. The Company’s MultiStem cell therapy, an allogeneic stem cell product, is its lead platform product and is in later-stage clinical development. Its clinical development programs are focused on treating neurological conditions, cardiovascular disease, inflammatory and immune disorders, certain pulmonary conditions and other conditions where the standard of care is limited or inadequate for many patients.
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