Shares of Athersys, Inc. (NASDAQ:ATHX) gapped up prior to trading on Wednesday . The stock had previously closed at $1.82, but opened at $1.86. Athersys shares last traded at $2.05, with a volume of 3,274,637 shares trading hands.

A number of brokerages have weighed in on ATHX. Zacks Investment Research upgraded shares of Athersys from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Thursday. Maxim Group reaffirmed a “buy” rating and set a $12.00 price target on shares of Athersys in a research note on Friday, September 1st.

The firm’s market capitalization is $235.80 million. The stock’s 50-day moving average is $1.64 and its 200-day moving average is $1.48.

Athersys (NASDAQ:ATHX) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). Athersys had a negative net margin of 729.07% and a negative return on equity of 121.47%. The company had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $0.96 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm’s revenue was up 12.4% on a year-over-year basis. On average, analysts forecast that Athersys, Inc. will post ($0.24) EPS for the current fiscal year.

In other news, EVP John J. Harrington sold 36,000 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $1.45, for a total value of $52,200.00. Following the completion of the sale, the executive vice president now owns 712,743 shares of the company’s stock, valued at approximately $1,033,477.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ATHX. Wells Fargo & Company MN boosted its stake in shares of Athersys by 4.8% in the 1st quarter. Wells Fargo & Company MN now owns 61,176 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 2,800 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Athersys by 17.2% in the 1st quarter. Bank of America Corp DE now owns 61,580 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 9,019 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Athersys by 329.7% in the 2nd quarter. SG Americas Securities LLC now owns 73,434 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 56,345 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Athersys in the 2nd quarter valued at $113,000. Finally, Blair William & Co. IL boosted its stake in shares of Athersys by 708.0% in the 2nd quarter. Blair William & Co. IL now owns 80,804 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 70,804 shares in the last quarter. 19.08% of the stock is owned by institutional investors.

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About Athersys

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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