Athersys, Inc. (NASDAQ:ATHX) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

ATHX has been the topic of several other reports. Maxim Group set a $12.00 price objective on shares of Athersys and gave the stock a “buy” rating in a report on Monday, August 7th. Zacks Investment Research lowered shares of Athersys from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Athersys presently has an average rating of “Buy” and an average price target of $7.08.

Shares of Athersys (ATHX) traded up 3.26% during mid-day trading on Friday, hitting $2.22. The company had a trading volume of 1,731,320 shares. Athersys has a 52 week low of $1.02 and a 52 week high of $2.30. The firm has a 50-day moving average price of $1.72 and a 200-day moving average price of $1.52. The firm’s market capitalization is $252.88 million.

Athersys (NASDAQ:ATHX) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The business 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 quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Equities analysts forecast that Athersys will post ($0.24) earnings per share for the current year.

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Several large investors have recently made changes to their positions in ATHX. Wells Fargo & Company MN increased its position in shares of Athersys by 4.8% in the 1st quarter. Wells Fargo & Company MN now owns 61,176 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 2,800 shares during the last quarter. Bank of America Corp DE increased its position in shares of Athersys by 17.2% in the 1st quarter. Bank of America Corp DE now owns 61,580 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 9,019 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Athersys by 329.7% in the 2nd quarter. SG Americas Securities LLC now owns 73,434 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 56,345 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Athersys in the 2nd quarter valued at approximately $113,000. Finally, Blair William & Co. IL increased its position in shares of Athersys by 708.0% in the 2nd quarter. Blair William & Co. IL now owns 80,804 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 70,804 shares during the last quarter. 19.08% of the stock is currently 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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