Athersys (ATHX) Stock: $5 Price Target And Buy Rating

By Amit Chowdhry ● Mar 20, 2022
  • The shares of Athersys (NASDAQ: ATHX) have received a $5 price target from Needham. These are the details.

The shares of Athersys (NASDAQ: ATHX) have received a $5 price target from Needham. And Needham analyst Gil Blum reiterated a “Buy” rating on the shares.

Blum adjusted the rating following topline data from the Japanese TREASURE study remaining on track for Q2 2022.

“A positive readout could serve as basis for a JNDA filing. Importantly, such readout will translate more broadly and de-risk the US-based pivotal MASTERS-2 study in stroke. Athersys softened its guidance for MASTERS 2 enrollment with expected completion by YE:22 or soon thereafter,” wrote Blum in a research note. “Data from the ONE-BRIDGE and MUST-ARDS studies may be sufficient for filing in acute respiratory distress syndrome (ARDS) by Athersys’ partner Healios in Japan later in 2022. The MACOVIA Phase II trial in ARDS is expected to complete in 2022. Athersys ended 2021 with ~$37M in cash, sufficient to fund operation post TREASURE study readout in 2Q:22. We acknowledge that the limited cash runaway poses a significant overhang for ATHX.”

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