Lake Street Capital Upgrades Alterity Therapeutics (NASDAQ:ATHE) to "Strong-Buy"

Key Points

• Lake Street Capital upgraded Alterity Therapeutics to “strong buy,” while analysts overall maintain a “moderate buy” consensus with a $10.00 average target price.
• ATHE opened at $3.73, compared with a 52-week range of $2.66 to $5.89. The company reported a quarterly loss of $0.28 per share and $0.31 million in revenue.
• Greenleaf Trust nearly doubled its stake during the second quarter, although institutional investors and hedge funds collectively own just 2.14% of the company.

Alterity Therapeutics (NASDAQ:ATHE - Get Free Report) was upgraded by research analysts at Lake Street Capital to a "strong-buy" rating in a research report issued on Tuesday, Zacks reports.

A number of other analysts also recently weighed in on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Alterity Therapeutics in a report on Tuesday, June 16th. They issued a "buy" rating and a $10.00 target price on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alterity Therapeutics in a research report on Friday, July 17th. Zacks Research raised Alterity Therapeutics to a "hold" rating in a research note on Wednesday, June 17th. Craig Hallum set a $2.00 price objective on Alterity Therapeutics in a research report on Tuesday, August 11th. Finally, JonesTrading initiated coverage on Alterity Therapeutics in a research note on Tuesday, June 30th. They issued a "buy" rating and a $16.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Alterity Therapeutics Stock Performance

NASDAQ ATHE opened at $3.73 on Tuesday. Alterity Therapeutics has a 1-year low of $2.66 and a 1-year high of $5.89. The business has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $4.33.

Alterity Therapeutics (NASDAQ:ATHE - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter. The company had revenue of $0.31 million for the quarter. As a group, equities analysts anticipate that Alterity Therapeutics will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Alterity Therapeutics

A hedge fund recently raised its stake in Alterity Therapeutics stock. Greenleaf Trust raised its position in Alterity Therapeutics Limited - Sponsored ADR (NASDAQ:ATHE - Free Report) by 93.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,000 shares of the company's stock after purchasing an additional 30,000 shares during the quarter. Greenleaf Trust owned 0.70% of Alterity Therapeutics worth $333,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.14% of the company's stock.

Alterity Therapeutics Company Profile

Alterity Therapeutics Limited NASDAQ: ATHE is an Australia-based clinical-stage biotechnology company developing treatments for neurodegenerative diseases. Its research focuses on abnormal protein misfolding and aggregation, biological processes associated with disorders such as multiple system atrophy and Parkinson's disease.

The company's lead drug candidate, ATH-434, is an orally administered small molecule designed to cross the blood-brain barrier and inhibit the aggregation of alpha-synuclein, a protein implicated in several neurodegenerative conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.