Athersys (NASDAQ:ATHX) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04), Bloomberg Earnings reports. The company had revenue of $1.17 million for the quarter, compared to analyst estimates of $0.42 million. Athersys had a negative return on equity of 113.63% and a negative net margin of 746.04%. Athersys’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share.
Shares of Athersys (NASDAQ ATHX) opened at $1.84 on Wednesday. Athersys has a 12-month low of $1.09 and a 12-month high of $2.63. The company has a market capitalization of $192.79, a PE ratio of -6.57 and a beta of -0.57.
Several brokerages have weighed in on ATHX. ValuEngine raised Athersys from a “sell” rating to a “hold” rating in a research report on Wednesday, November 22nd. Maxim Group set a $12.00 price target on Athersys and gave the stock a “buy” rating in a research report on Thursday, November 16th.
A hedge fund recently raised its stake in Athersys stock. The Manufacturers Life Insurance Company increased its holdings in shares of Athersys, Inc. (NASDAQ:ATHX) by 345.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 88,561 shares of the biopharmaceutical company’s stock after acquiring an additional 68,680 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Athersys worth $134,000 as of its most recent SEC filing. Institutional investors own 19.66% of the company’s stock.
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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