Dawson James Securities launched coverage of Athersys (NASDAQ:ATHX) with a “buy” rating and $11 price target. The stock closed at $1.40 on Aug. 23.
“Athersys has the potential to change the treatment paradigm for several indications across the neurological, inflammatory, immune and cardiovascular spaces,” writes analyst Jason Kolbert.
The company’s proprietary stem cell technology, MultiStem, is in two pivotal Phase 3 trials for ischemic stroke with SPA designations. MultiStem cell therapy utilizes a unique mechanism of action to allow efficacious delivery up to 36 hours after the stroke, with the potential to ameliorate the resulting damage that results from the primary ischemic insult.
Mr. Kolbert says Athersys is currently enrolling patients in the U.S. pivotal trial, known as MASTERS-2, with 300 patients, and partner Healios is enrolling patients in the TREASURE study in Japan, with 220 patients.
