Maxim Group reiterated their buy rating on shares of Athersys, Inc. (NASDAQ:ATHX) in a research report sent to investors on Friday morning. The brokerage currently has a $12.00 price target on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research cut shares of Athersys from a buy rating to a hold rating in a research note on Thursday.

Athersys (NASDAQ:ATHX) remained flat at $1.75 during trading on Friday. 1,089,571 shares of the company traded hands. The company’s market capitalization is $199.34 million. The firm has a 50 day moving average price of $1.61 and a 200-day moving average price of $1.47. Athersys has a 1-year low of $1.02 and a 1-year high of $2.30.

Athersys (NASDAQ:ATHX) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $0.96 million. Athersys had a negative net margin of 729.07% and a negative return on equity of 121.47%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Equities research analysts predict that Athersys will post ($0.24) EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in shares of Athersys by 4.8% during the first quarter. Wells Fargo & Company MN now owns 61,176 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 2,800 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Athersys by 17.2% during the first quarter. Bank of America Corp DE now owns 61,580 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 9,019 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Athersys by 329.7% during the second quarter. SG Americas Securities LLC now owns 73,434 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 56,345 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Athersys during the second quarter worth approximately $113,000. Finally, Blair William & Co. IL increased its holdings in shares of Athersys by 708.0% during the second quarter. Blair William & Co. IL now owns 80,804 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 70,804 shares in the last quarter. 19.08% of the stock is owned by institutional investors.

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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