Athersys (NASDAQ:ATHX) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04), Bloomberg Earnings reports. Athersys had a negative net margin of 746.04% and a negative return on equity of 113.63%. The business had revenue of $1.17 million for the quarter, compared to analysts’ expectations of $0.42 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis.
Athersys (NASDAQ ATHX) opened at $1.84 on Wednesday. Athersys has a twelve month low of $1.09 and a twelve month high of $2.63.
A number of research analysts recently issued reports on the company. Maxim Group set a $6.00 price target on Athersys and gave the company a “buy” rating in a report on Tuesday. ValuEngine downgraded Athersys from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st.
An institutional investor recently raised its position in Athersys stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Athersys, Inc. (NASDAQ:ATHX) by 345.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,561 shares of the biopharmaceutical company’s stock after purchasing an additional 68,680 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Athersys worth $134,000 at the end of the most recent reporting period. 19.66% of the stock is currently owned by hedge funds and other institutional investors.
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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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