Athira Pharma (NASDAQ:LONA) Stock Rating Upgraded by Citizens Jmp

Key Points

• Citizens JMP upgraded Athira Pharma from “market perform” to “outperform” and set an $18 price target, implying approximately 156% upside from the stock’s $7.04 opening price.
• Analyst sentiment is mixed but leans positive: Athira has a consensus “Moderate Buy” rating and an average price target of $16, alongside four Buy, one Hold, and one Sell rating.
• Athira reported a quarterly loss of $1.73 per share, while institutional investors own 57.12% of the company; the clinical-stage biotech is developing fosgonimeton for neurodegenerative diseases.

Athira Pharma (NASDAQ:LONA - Get Free Report) was upgraded by Citizens Jmp from a "market perform" rating to an "outperform" rating in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has a $18.00 price target on the stock. Citizens Jmp's price target suggests a potential upside of 155.68% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Athira Pharma in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Athira Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Piper Sandler started coverage on shares of Athira Pharma in a report on Wednesday, May 27th. They issued an "overweight" rating and a $20.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Athira Pharma presently has an average rating of "Moderate Buy" and a consensus price target of $16.00.

Athira Pharma Trading Up 1.0%

Shares of Athira Pharma stock opened at $7.04 on Thursday. The business's 50 day simple moving average is $8.56 and its 200-day simple moving average is $8.06. The stock has a market capitalization of $66.11 million, a price-to-earnings ratio of -1.35 and a beta of 2.01. Athira Pharma has a twelve month low of $3.24 and a twelve month high of $14.21.

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

Institutional Trading of Athira Pharma

Several hedge funds have recently added to or reduced their stakes in LONA. Seven Fleet Capital Management LP acquired a new position in Athira Pharma during the 4th quarter worth $969,000. Perceptive Advisors LLC increased its holdings in shares of Athira Pharma by 244.1% during the fourth quarter. Perceptive Advisors LLC now owns 1,859,322 shares of the company's stock valued at $14,075,000 after purchasing an additional 1,319,026 shares during the period. Millennium Management LLC acquired a new position in shares of Athira Pharma during the fourth quarter valued at $2,456,000. Commodore Capital LP bought a new stake in shares of Athira Pharma during the fourth quarter valued at about $3,515,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Athira Pharma during the fourth quarter valued at about $2,891,000. Institutional investors own 57.12% of the company's stock.

Athira Pharma Company Profile

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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