Zacks: Brokerages Set $6.00 Target Price for Athersys, Inc. (ATHX)
Shares of Athersys, Inc. (NASDAQ:ATHX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price target of $6.00 for the company and are expecting that the company will post ($0.08) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Athersys an industry rank of 90 out of 255 based on the ratings given to its competitors.
A number of brokerages have recently issued reports on ATHX. ValuEngine upgraded shares of Athersys from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. BidaskClub lowered shares of Athersys from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Maxim Group set a $6.00 target price on shares of Athersys and gave the company a “buy” rating in a research note on Friday, May 11th. Finally, Zacks Investment Research upgraded shares of Athersys from a “sell” rating to a “hold” rating in a research note on Monday, July 23rd.
A number of hedge funds and other institutional investors have recently bought and sold shares of ATHX. JPMorgan Chase & Co. grew its position in Athersys by 214.9% in the 1st quarter. JPMorgan Chase & Co. now owns 69,370 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 47,339 shares during the last quarter. Alps Advisors Inc. bought a new position in Athersys in the 2nd quarter worth about $394,000. Schwab Charles Investment Management Inc. grew its position in Athersys by 50.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 250,900 shares of the biopharmaceutical company’s stock worth $495,000 after purchasing an additional 84,600 shares during the last quarter. Renaissance Technologies LLC grew its position in Athersys by 21.3% in the 2nd quarter. Renaissance Technologies LLC now owns 439,900 shares of the biopharmaceutical company’s stock worth $867,000 after purchasing an additional 77,100 shares during the last quarter. Finally, Millennium Management LLC grew its position in Athersys by 377.6% in the 2nd quarter. Millennium Management LLC now owns 457,667 shares of the biopharmaceutical company’s stock worth $902,000 after purchasing an additional 361,835 shares during the last quarter. Hedge funds and other institutional investors own 18.33% of the company’s stock.
NASDAQ:ATHX traded up $0.03 on Wednesday, reaching $2.01. The stock had a trading volume of 377,468 shares, compared to its average volume of 375,679. The stock has a market cap of $277.17 million, a P/E ratio of -6.93 and a beta of -0.75. Athersys has a 12-month low of $1.29 and a 12-month high of $3.09.
Athersys (NASDAQ:ATHX) last posted its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share for the quarter. The company had revenue of $19.39 million during the quarter, compared to analysts’ expectations of $12.82 million. Athersys had a negative net margin of 106.99% and a negative return on equity of 61.52%. analysts predict that Athersys will post -0.21 earnings per share for the current year.
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.
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