Athersys is Initiated by Needham to “Buy”

Athersys (ATHX) was Initiated by Needham to “Buy” and the brokerage firm has set the Price Target at $7. Needham advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, Athersys reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 9, 2016. Analyst had a consensus of $-0.09. The company had revenue of $.31 million for the quarter, compared to analysts expectations of $.60 million. The company’s revenue was down -21.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

Several company insiders have filed Insider transactions , on Feb 1, 2017, Ismail Kola (director) purchased 15,000 shares at $1.01 per share price. According to the SEC, on Feb 1, 2017, Jordan Davis (director) purchased 247,500 shares at $1.01 per share price. On Feb 1, 2017, Laura K Campbell (Senior Vice Pres Finance) purchased 20,000 shares at $1.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Athersys closed down -0.02 points or -1.65% at $1.19 with 7,40,260 shares getting traded on Friday. Post opening the session at $1.21, the shares hit an intraday low of $1.15 and an intraday high of $1.21 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Athersys Inc. is an international biotechnology company that is focused primarily in the field of regenerative medicine. The Company’s MultiStem cell therapy is being evaluated in multiple clinical trials. Its current clinical development programs are focused on treating inflammatory and immune disorders neurological conditions cardiovascular disease and other conditions. It is also identifying and developing small molecule compounds with applications in indications such as obesity related metabolic conditions and neurological conditions. It is engaged in the preparation stages for clinical studies in other targeted areas including the treatment of ARDS. Its current programs include Ischemic Stroke Acute Myocardial Infarction Acute Respiratory Distress Syndrome Hematopoietic Stem Cell Transplant/GvHD and Inflammatory Bowel Disease. In addition to the programs it is also conducting or supporting clinical activity in other areas such as solid organ transplant.


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