Athersys Inc. (ATHX) Rating Lowered to Hold at Zacks Investment Research
Athersys Inc. (NASDAQ:ATHX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
Separately, Maxim Group reiterated a “buy” rating and set a $10.00 price target on shares of Athersys in a report on Wednesday, September 28th.
Athersys (NASDAQ:ATHX) opened at 2.10 on Tuesday. The firm’s market capitalization is $178.46 million. The company’s 50 day moving average price is $2.01 and its 200-day moving average price is $2.17. Athersys has a 12-month low of $0.94 and a 12-month high of $2.90.
Athersys (NASDAQ:ATHX) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $0.32 million. Athersys had a negative return on equity of 25.42% and a negative net margin of 18.89%. Athersys’s quarterly revenue was up 200.0% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. On average, equities analysts anticipate that Athersys will post ($0.20) earnings per share for the current fiscal year.
In other Athersys news, EVP John J. Harrington sold 15,000 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $1.96, for a total value of $29,400.00. Following the sale, the executive vice president now directly owns 619,639 shares in the company, valued at $1,214,492.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. 10.90% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of ATHX. NEXT Financial Group Inc raised its stake in shares of Athersys by 1.4% in the second quarter. NEXT Financial Group Inc now owns 92,750 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,250 shares during the last quarter. A.R.T. Advisors LLC raised its stake in shares of Athersys by 2.5% in the second quarter. A.R.T. Advisors LLC now owns 69,953 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,715 shares during the last quarter. Alambic Investment Management L.P. raised its stake in shares of Athersys by 164.3% in the second quarter. Alambic Investment Management L.P. now owns 56,300 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 35,000 shares during the last quarter. Nationwide Fund Advisors purchased a new stake in shares of Athersys during the second quarter valued at about $104,000. Finally, Rhumbline Advisers purchased a new stake in shares of Athersys during the second quarter valued at about $161,000. Hedge funds and other institutional investors own 17.76% of the company’s stock.
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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