Altimmune, Inc. (NASDAQ:ALT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Altimmune, Inc. (NASDAQ:ALT) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.71.

Several brokerages have issued reports on ALT. UBS Group started coverage on Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 target price for the company. Stifel Nicolaus initiated coverage on shares of Altimmune in a research note on Wednesday, January 8th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research report on Thursday, November 14th.

Altimmune Stock Performance

Altimmune stock opened at $6.78 on Tuesday. Altimmune has a fifty-two week low of $5.28 and a fifty-two week high of $14.84. The stock has a market cap of $482.23 million, a P/E ratio of -4.37 and a beta of 0.22. The firm’s fifty day moving average price is $8.10 and its 200-day moving average price is $7.21.

Altimmune (NASDAQ:ALT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The business had revenue of $0.01 million for the quarter. During the same quarter in the previous year, the business earned ($0.39) EPS. On average, analysts predict that Altimmune will post -1.36 earnings per share for the current year.

Hedge Funds Weigh In On Altimmune

A number of hedge funds have recently modified their holdings of ALT. Bank of New York Mellon Corp grew its stake in shares of Altimmune by 28.6% in the second quarter. Bank of New York Mellon Corp now owns 243,808 shares of the company’s stock worth $1,621,000 after purchasing an additional 54,154 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Altimmune by 190.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,688 shares of the company’s stock worth $98,000 after buying an additional 9,635 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Altimmune during the second quarter valued at approximately $70,000. Commonwealth Equity Services LLC raised its holdings in shares of Altimmune by 9.0% during the second quarter. Commonwealth Equity Services LLC now owns 87,110 shares of the company’s stock valued at $579,000 after acquiring an additional 7,165 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Altimmune by 25.8% in the second quarter. Rhumbline Advisers now owns 107,446 shares of the company’s stock valued at $715,000 after acquiring an additional 22,034 shares in the last quarter. Hedge funds and other institutional investors 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.