Altimmune (NASDAQ:ALT) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Altimmune (NASDAQ:ALT) issued its quarterly earnings results on Tuesday. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.03, Zacks reports. Altimmune had a negative return on equity of 52.60% and a negative net margin of 199,076.92%. The firm had revenue of $0.01 million for the quarter. During the same period last year, the firm posted ($0.39) earnings per share.

Altimmune Stock Up 4.4 %

Shares of NASDAQ:ALT traded up $0.42 during mid-day trading on Wednesday, hitting $9.91. The stock had a trading volume of 8,491,450 shares, compared to its average volume of 3,851,807. Altimmune has a 12-month low of $2.34 and a 12-month high of $14.84. The company’s 50 day moving average is $6.89 and its 200-day moving average is $6.87.

Analysts Set New Price Targets

ALT has been the subject of several research reports. UBS Group began coverage on Altimmune in a research note on Tuesday. They set a “buy” rating and a $26.00 price target for the company. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of Altimmune in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Altimmune in a report on Thursday, August 22nd. Finally, Evercore ISI upgraded Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Insider Activity

In other news, Director David Drutz sold 16,011 shares of Altimmune stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $6.90, for a total value of $110,475.90. Following the transaction, the director now directly owns 41,958 shares in the company, valued at approximately $289,510.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

About Altimmune

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.