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 note issued to investors on Tuesday.
Separately, Maxim Group reiterated a “buy” rating on shares of Athersys in a research note on Monday, June 27th.
Athersys (NASDAQ:ATHX) opened at 2.10 on Tuesday. The firm’s market cap is $178.46 million. Athersys has a one year low of $0.94 and a one year high of $2.90. The firm’s 50-day moving average price is $2.01 and its 200 day moving average price is $2.17.
Athersys (NASDAQ:ATHX) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Athersys had a negative return on equity of 25.42% and a negative net margin of 18.89%. The company had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $0.32 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue was up 200.0% compared to the same quarter last year. On average, equities research analysts forecast that Athersys will post ($0.20) EPS for the current year.
In other news, EVP John J. Harrington sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $1.96, for a total transaction of $29,400.00. Following the sale, the executive vice president now owns 619,639 shares in the company, valued at approximately $1,214,492.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.90% of the company’s stock.
Several large investors have recently made changes to their positions in ATHX. NEXT Financial Group Inc raised its position in Athersys by 1.4% in the second quarter. NEXT Financial Group Inc now owns 92,750 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,250 shares during the last quarter. A.R.T. Advisors LLC raised its position in Athersys by 2.5% in the second quarter. A.R.T. Advisors LLC now owns 69,953 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 1,715 shares during the last quarter. Alambic Investment Management L.P. raised its position in Athersys by 164.3% in the second quarter. Alambic Investment Management L.P. now owns 56,300 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 35,000 shares during the last quarter. Nationwide Fund Advisors acquired a new position in Athersys during the second quarter worth $104,000. Finally, Rhumbline Advisers acquired a new position in Athersys during the second quarter worth $161,000. 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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