Maxim Reiterates Buy On Athersys Following Phase 2 Completion Of MultiStem
In a research report issued Monday, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Athersys (NASDAQ:ATHX) with a price target of $7.00, as the company announced that it has concluded patient enrollment of its Phase 2 clinical study involving administration of Athersys’ MultiStem(R) cell therapy to ischemic stroke patients.
Kolbert commented, “Initial (90 day) results from the study to be disclosed around the end of the first quarter of 2015. Good data should be transformative for both Athersys, Patients and the Stem Cell field.” He continued, “Our research and channel checks leave us enthused about stroke data in 1Q15. We believe the probability skew is positive for Athersys, and the outcome has the potential to be transformative for both the company and patients.”
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 1.1% and a 38.0% success rate. Kolbert has an -19.0% average return when recommending ATHX, and is ranked #1653 out of 3426 analysts.