Athersys (ATHX) Given a $6.00 Price Target at Maxim Group
“Summary Athersys issued a press release this morning ahead of their scheduled earnings release and conference call tonight. News is that the company will significantly expand their existing development and commercialization collaboration with partner Healios (6927JP – ¥998 – NR). Healios will make a ~$21M equity investment at $1.76 per share, a premium to Athersys current share price of $1.56. Specifics mentioned:.”,” Maxim Group’s analyst wrote.
Separately, ValuEngine downgraded Athersys from a sell rating to a strong sell rating in a research note on Thursday, March 1st.
Athersys (NASDAQ:ATHX) last posted its quarterly earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The firm had revenue of $1.17 million for the quarter, compared to the consensus estimate of $0.42 million. Athersys had a negative return on equity of 113.63% and a negative net margin of 746.04%. The firm’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. equities analysts anticipate that Athersys will post -0.25 EPS for the current year.
In other Athersys news, COO William Lehmann, Jr. sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $1.80, for a total value of $25,200.00. Following the completion of the transaction, the chief operating officer now owns 503,712 shares in the company, valued at approximately $906,681.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 29,000 shares of company stock valued at $51,075. 9.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Perkins Capital Management Inc. boosted its stake in Athersys by 17.7% in the 4th quarter. Perkins Capital Management Inc. now owns 363,375 shares of the biopharmaceutical company’s stock worth $658,000 after purchasing an additional 54,650 shares during the period. SG Americas Securities LLC bought a new position in Athersys in the 4th quarter worth about $108,000. OxFORD Asset Management LLP bought a new position in Athersys in the 3rd quarter worth about $178,000. Mckinley Capital Management LLC Delaware bought a new position in Athersys in the 3rd quarter worth about $1,093,000. Finally, Wells Fargo & Company MN boosted its stake in Athersys by 35.3% in the 3rd quarter. Wells Fargo & Company MN now owns 167,176 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 43,600 shares during the period. Institutional investors and hedge funds own 19.66% of the company’s stock.
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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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