Athersys (ATHX) Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Athersys (NASDAQ:ATHX) from a sell rating to a strong sell rating in a report published on Friday.

ATHX has been the topic of several other research reports. Zacks Investment Research raised shares of Athersys from a hold rating to a strong-buy rating and set a $2.25 price objective on the stock in a research report on Monday, November 12th. Maxim Group reaffirmed a buy rating and issued a $6.00 price objective on shares of Athersys in a research report on Tuesday, July 31st.

Athersys stock opened at $1.92 on Friday. Athersys has a fifty-two week low of $1.29 and a fifty-two week high of $3.09. The stock has a market cap of $284.91 million, a P/E ratio of -6.62 and a beta of -0.35.

Athersys (NASDAQ:ATHX) last released its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Athersys had a negative net margin of 108.83% and a negative return on equity of 58.74%. The business had revenue of $2.32 million for the quarter, compared to analysts’ expectations of $1.80 million. As a group, analysts predict that Athersys will post -0.19 EPS for the current year.

In other Athersys news, insider William Lehmann, Jr. sold 15,000 shares of Athersys stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $1.88, for a total value of $28,200.00. Following the sale, the insider now owns 517,373 shares of the company’s stock, valued at $972,661.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 18.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ATHX. Northern Trust Corp raised its position in shares of Athersys by 7.1% in the first quarter. Northern Trust Corp now owns 1,215,690 shares of the biopharmaceutical company’s stock valued at $2,225,000 after purchasing an additional 80,708 shares during the period. JPMorgan Chase & Co. raised its position in shares of Athersys by 214.9% in the first quarter. JPMorgan Chase & Co. now owns 69,370 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 47,339 shares during the period. Alps Advisors Inc. bought a new stake in shares of Athersys in the second quarter valued at approximately $394,000. Schwab Charles Investment Management Inc. raised its position in shares of Athersys by 50.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 250,900 shares of the biopharmaceutical company’s stock valued at $495,000 after purchasing an additional 84,600 shares during the period. Finally, BlackRock Inc. raised its position in shares of Athersys by 22.4% in the second quarter. BlackRock Inc. now owns 6,000,666 shares of the biopharmaceutical company’s stock valued at $11,821,000 after purchasing an additional 1,097,520 shares during the period. 19.00% of the stock is currently owned by institutional investors and hedge funds.

About Athersys

Athersys, Inc, a biotechnology company, focuses on the research and development activities in the field of regenerative medicine. Its clinical development programs are focused on treating neurological conditions, cardiovascular diseases, inflammatory and immune disorders, and pulmonary and other conditions.

Further Reading: Fundamental Analysis

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