Athersys, Inc (NASDAQ:ATHX) Gets Downgraded


Dallas, Texas 03/26/2014 (FINANCIALSTRENDS) – Zacks lowered Athersys, Inc (NASDAQ:ATHX) shares from a “neutral” to an “underperform” rating in the research report that was released to investors. Currently, Zacks has price target of $3.40 on the stock. Athersys, Inc (NASDAQ:ATHX) last announced the company’s earnings results on 13 March . It reported earnings per share of $0.15 for the quarter, which missed the average projection of ($0.11) by $0.04. Athersys, Inc (NASDAQ:ATHX) reported revenue of $0.92M for the quarter, in comparison to the average projection of $1.81 million. Athersys, Inc (NASDAQ:ATHX)’s revenue for that quarter dropped 59.8% on a y-o-y basis. On an average, analysts project that Athersys, Inc (NASDAQ:ATHX)will post earnings per share of $-0.31 for the current financial year.

In separate Athersys, Inc (NASDAQ:ATHX) news, William Lehmann Jr, the company’s Chief Operating Officer, offloaded 25,000 shares of Athersys, Inc (NASDAQ:ATHX) stock in the transaction that was dated Thursday, March 20th. These shares were sold-off at an average- price of $3.62, and the total transaction value was $90,500.00. This sale was disclosed in the legal-filing with the SEC.

Athersys Inc. is a bio pharma company that is involved in the field of regenerative-medicine. In the year that ended Dec 31, 2011 Athersys, Inc (NASDAQ:ATHX) is developing the platform product, MultiStem, which is an allogeneic stem-cell product that has now been evaluated in 2 completed Phase-I clinical trials & as of Dec 31, 2011, is now being evaluated in 2, ongoing Phase-II clinical trials. Athersys, Inc (NASDAQ:ATHX)’s clinical development-programs are now focused on the treatment of inflammatory & immune disorders, and neurological conditions, and cardiovascular disease, as well as other conditions.

Athersys, Inc (NASDAQ:ATHX) is also involved in developing small molecule-therapies in treating obesity & many other conditions. In 2011, Athersys, Inc (NASDAQ:ATHX)is focused on development of potent, highly-selective compounds that can act through the stimulation of the specific-receptor in the brain that effectively controls appetite.