Athira Pharma, Inc. (NASDAQ:LONA) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts assign Athira Pharma a “Moderate Buy” consensus: Four of six analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $16, well above the reported share price of $7.68.
• Institutional ownership stands at 57.12%: Several hedge funds recently initiated or increased positions, including Spruce Street Capital and ADAR1 Capital Management, which each acquired stakes valued at nearly $3 million.
• Athira remains a high-risk, clinical-stage biotech: The company reported a quarterly loss of $1.73 per share, and analysts expect a full-year loss of $3.12 per share. Its lead drug candidate, fosgonimeton, is being developed for neurodegenerative diseases including Alzheimer’s and Parkinson’s.

Athira Pharma, Inc. (NASDAQ:LONA - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.00.

Several equities analysts recently commented on LONA shares. Citizens Jmp raised Athira Pharma from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Athira Pharma in a research note on Monday, May 11th. Piper Sandler initiated coverage on shares of Athira Pharma in a research report on Wednesday, May 27th. They set an "overweight" rating and a $20.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Athira Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th.

Institutional Investors Weigh In On Athira Pharma

Hedge funds have recently added to or reduced their stakes in the business. Focus Partners Wealth purchased a new position in Athira Pharma in the 3rd quarter valued at approximately $35,000. Renaissance Technologies LLC increased its position in shares of Athira Pharma by 44.7% during the fourth quarter. Renaissance Technologies LLC now owns 75,147 shares of the company's stock worth $569,000 after acquiring an additional 23,223 shares during the period. Jane Street Group LLC purchased a new stake in shares of Athira Pharma during the fourth quarter worth $100,000. Spruce Street Capital LP acquired a new stake in shares of Athira Pharma in the fourth quarter valued at $2,980,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Athira Pharma in the fourth quarter valued at $2,891,000. 57.12% of the stock is currently owned by institutional investors and hedge funds.

Athira Pharma Stock Performance

Athira Pharma stock opened at $7.68 on Monday. Athira Pharma has a 52 week low of $3.52 and a 52 week high of $14.21. The stock has a fifty day moving average price of $8.33 and a 200 day moving average price of $8.12. The firm has a market capitalization of $72.12 million, a P/E ratio of -1.47 and a beta of 2.05.

Athira Pharma (NASDAQ:LONA - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.73) earnings per share (EPS) for the quarter. As a group, equities analysts predict that Athira Pharma will post -3.12 EPS for the current year.

About Athira Pharma

Athira Pharma, Inc is a clinical‐stage biopharmaceutical company headquartered in Seattle, Washington, that is dedicated to developing therapies aimed at restoring neuronal health and slowing the progression of neurodegenerative diseases. Founded in 2011, Athira’s research focuses on the Hepatocyte Growth Factor (HGF)/MET pathway as a novel mechanism to promote neuronal repair, synaptic function and overall cognitive performance. The company’s overarching goal is to offer disease‐modifying treatments for conditions such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease and amyotrophic lateral sclerosis (ALS).

The centerpiece of Athira’s pipeline is fosgonimeton (ATH‐1017), a small‐molecule positive modulator of the HGF/MET system.

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