Athersys Inc. Forecasted to Post FY2016 Earnings of ($0.18) Per Share (ATHX)
Athersys Inc. (NASDAQ:ATHX) – Investment analysts at First Analysis lifted their FY2016 earnings per share estimates for shares of Athersys in a research report issued on Thursday. First Analysis analyst T. Marshbanks now expects that the firm will earn ($0.18) per share for the year, up from their previous estimate of ($0.23).
Athersys (NASDAQ:ATHX) last announced its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The firm earned $0.31 million during the quarter, compared to analysts’ expectations of $0.60 million. Athersys had a negative net margin of 17.12% and a negative return on equity of 22.82%. The company’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share.
Other equities research analysts have also recently issued reports about the stock. Maxim Group set a $10.00 price target on shares of Athersys and gave the stock a “buy” rating in a research report on Saturday. Zacks Investment Research lowered shares of Athersys from a “buy” rating to a “hold” rating in a research note on Friday, July 29th.
Athersys (NASDAQ:ATHX) opened at 1.68 on Monday. Athersys has a 52 week low of $0.97 and a 52 week high of $2.90. The company’s market cap is $143.64 million. The firm’s 50-day moving average is $1.91 and its 200-day moving average is $2.08.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new position in shares of Athersys during the third quarter worth approximately $121,000. Northern Trust Corp raised its position in shares of Athersys by 211.2% in the third quarter. Northern Trust Corp now owns 829,044 shares of the biopharmaceutical company’s stock worth $1,765,000 after buying an additional 562,660 shares during the period. California State Teachers Retirement System raised its position in shares of Athersys by 0.9% in the third quarter. California State Teachers Retirement System now owns 161,160 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 1,500 shares during the period. Rhumbline Advisers raised its position in shares of Athersys by 2.8% in the third quarter. Rhumbline Advisers now owns 76,482 shares of the biopharmaceutical company’s stock worth $163,000 after buying an additional 2,100 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Athersys by 8.2% in the third quarter. Teachers Advisors LLC now owns 128,702 shares of the biopharmaceutical company’s stock worth $274,000 after buying an additional 9,790 shares during the period. Institutional investors and hedge funds own 17.79% of the company’s stock.
In other news, EVP John J. Harrington sold 15,000 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $1.96, for a total transaction of $29,400.00. Following the transaction, the executive vice president now directly owns 619,639 shares in the company, valued at approximately $1,214,492.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.90% 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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