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Here's Why Athersys Stock Is Soaring Today

TheMotleyFool

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Here's Why Athersys Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Hedge fund, neutral atmosphere, photo by Charlie Waite: https://img.theapi.app/temp/95282efd-f725-49c0-be40-aa74627f7ccc.png

Shares of Athersys (NASDAQ: ATHX) rose over 29% today after Bank of America (BofA) Securities initiated coverage of the stem cell specialist with a buy rating and a $5 price target.

Considering the stock remains under $3 per share even after today's jump, that implies significant upside if the bullishness of BofA Securities proves correct. However, individual investors can't overlook one big conflict of interest.

As of 1:03 p.m. EDT, the small-cap stock had settled to a 27.7% gain.

Source Fool.com

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