Piper Sandler Reaffirms Overweight Rating for Altimmune (NASDAQ:ALT)

Altimmune (NASDAQ:ALT)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They currently have a $25.00 target price on the stock. Piper Sandler’s target price points to a potential upside of 273.13% from the stock’s previous close.

A number of other analysts also recently issued reports on ALT. Guggenheim downgraded Altimmune from a “buy” rating to a “neutral” rating in a report on Monday, April 29th. B. Riley reissued a “buy” rating and issued a $20.00 target price on shares of Altimmune in a report on Thursday, March 28th. JMP Securities reduced their target price on Altimmune from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Friday, May 10th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Altimmune in a research report on Tuesday, May 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Altimmune Trading Up 12.8 %

ALT traded up $0.76 on Friday, hitting $6.70. 1,986,524 shares of the company were exchanged, compared to its average volume of 4,508,126. Altimmune has a twelve month low of $2.09 and a twelve month high of $14.84. The company has a market cap of $475.03 million, a price-to-earnings ratio of -4.18 and a beta of 0.11. The firm has a 50-day moving average price of $7.15 and a two-hundred day moving average price of $8.74.

Altimmune (NASDAQ:ALT) last released its earnings results on Thursday, May 9th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.02. The firm had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 46.96% and a negative net margin of 22,645.37%. During the same period in the previous year, the firm earned ($0.40) earnings per share. Equities analysts expect that Altimmune will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Altimmune

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Timelo Investment Management Inc. increased its position in Altimmune by 2,597.0% during the 4th quarter. Timelo Investment Management Inc. now owns 809,095 shares of the company’s stock worth $9,102,000 after purchasing an additional 779,095 shares during the period. Knoll Capital Management LLC increased its position in Altimmune by 183.6% during the 1st quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock worth $5,774,000 after purchasing an additional 367,219 shares during the period. Farallon Capital Management LLC increased its position in Altimmune by 1,282.4% during the 1st quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock worth $4,785,000 after purchasing an additional 436,000 shares during the period. GSA Capital Partners LLP increased its position in Altimmune by 153.1% during the 3rd quarter. GSA Capital Partners LLP now owns 445,868 shares of the company’s stock worth $1,159,000 after purchasing an additional 269,676 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in Altimmune during the 4th quarter worth approximately $4,493,000. Institutional investors and hedge funds own 78.05% of the company’s stock.

Altimmune Company Profile

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.