In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Athersys (ATHX), with a price target of $8. The company’s shares closed yesterday at $1.39, close to its 52-week low of $1.29.
McCarthy commented:
“Athersys announced positive initial data from the P1/2a study of MultiStem in acute respiratory distress syndrome (ARDS).”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.1% and a 29.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Athersys with a $8 average price target.
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Based on Athersys’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $9.74 million. In comparison, last year the company had a GAAP net loss of $13.1 million.
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Athersys, Inc. engages in the discovery and development of therapies designed to extend and enhance to quality of human life. It offers MultiStem as its stem cell product which provides biological potency and therapeutic effects for distinct diseases and conditions in the cardiovascular, neurological, inflammatory, and immune disease areas.
