Altimmune (NASDAQ:ALT) Issues Earnings Results

Key Points

• Altimmune reported quarterly earnings of ($0.27) EPS, exceeding analysts' expectations of ($0.32) by $0.05.
• Following the earnings report, Altimmune's stock price rose by 8.4%, trading at $3.67 during the session.
• Analysts are generally optimistic, with a consensus rating of "Moderate Buy" and an average target price of $18.20.

Altimmune (NASDAQ:ALT - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.32) by $0.05, Zacks reports. Altimmune had a negative return on equity of 65.44% and a negative net margin of 451,200.00%. The firm had revenue of $0.01 million during the quarter, compared to analysts' expectations of $0.00 million.

Altimmune Trading Up 8.4%

Altimmune stock traded up $0.29 during trading hours on Tuesday, hitting $3.67. 4,054,065 shares of the stock traded hands, compared to its average volume of 3,780,926. Altimmune has a one year low of $2.90 and a one year high of $11.16. The company has a market cap of $297.27 million, a PE ratio of -2.92 and a beta of -0.01. The firm's 50-day moving average price is $4.90 and its two-hundred day moving average price is $5.35.

Analysts Set New Price Targets

Several analysts have weighed in on ALT shares. HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of Altimmune in a research note on Friday, June 27th. Wall Street Zen upgraded Altimmune from a "sell" rating to a "hold" rating in a report on Saturday. JMP Securities decreased their price target on Altimmune from $25.00 to $15.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 10th. The Goldman Sachs Group raised Altimmune to a "strong sell" rating in a research note on Thursday, July 10th. Finally, William Blair reaffirmed a "market perform" rating on shares of Altimmune in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALT. Rhumbline Advisers boosted its stake in Altimmune by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 113,981 shares of the company's stock worth $441,000 after purchasing an additional 7,462 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Altimmune by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company's stock worth $247,000 after buying an additional 2,241 shares during the last quarter. Creative Planning raised its holdings in Altimmune by 30.2% in the second quarter. Creative Planning now owns 41,164 shares of the company's stock worth $159,000 after buying an additional 9,558 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Altimmune by 48.0% during the second quarter. Envestnet Asset Management Inc. now owns 32,908 shares of the company's stock valued at $127,000 after buying an additional 10,671 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Altimmune during the first quarter valued at approximately $50,000. 78.05% of the stock is currently owned by institutional investors.

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.

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