B. Riley Lowers Altimmune (NASDAQ:ALT) Price Target to $18.00

Key Points

• B. Riley has reduced its price target for Altimmune (NASDAQ:ALT) from $20.00 to $18.00, maintaining a "buy" rating, which indicates a potential upside of 397.24% from the current price.
• Altimmune's stock has recently been rated as "Moderate Buy" overall, with a consensus target price of $17.80, amid varied opinions from other brokerages.
• In its last quarterly earnings report, Altimmune posted a loss of ($0.27) per share, surpassing analysts' expectations, and had a revenue of $0.01 million for the quarter.

Altimmune (NASDAQ:ALT - Get Free Report) had its price target cut by research analysts at B. Riley from $20.00 to $18.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley's price objective suggests a potential upside of 397.24% from the stock's current price.

Several other brokerages also recently commented on ALT. Wall Street Zen raised shares of Altimmune from a "sell" rating to a "hold" rating in a report on Saturday. HC Wainwright reissued a "buy" rating and set a $12.00 price objective on shares of Altimmune in a research note on Friday, June 27th. The Goldman Sachs Group upgraded Altimmune to a "strong sell" rating in a research note on Thursday, July 10th. JMP Securities lowered their price target on Altimmune from $25.00 to $15.00 and set a "market outperform" rating on the stock in a report on Thursday, July 10th. Finally, William Blair reissued a "market perform" rating on shares of Altimmune in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Altimmune currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.80.

Altimmune Stock Performance

Shares of ALT opened at $3.62 on Wednesday. Altimmune has a 52-week low of $2.90 and a 52-week high of $11.16. The stock's 50-day simple moving average is $4.86 and its 200 day simple moving average is $5.34. The stock has a market capitalization of $293.62 million, a price-to-earnings ratio of -2.87 and a beta of -0.01.

Altimmune (NASDAQ:ALT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.32) by $0.05. Altimmune had a negative net margin of 451,200.00% and a negative return on equity of 65.44%. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.00 million. On average, research analysts forecast that Altimmune will post -1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altimmune

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Altimmune by 69.3% during the 4th quarter. Wells Fargo & Company MN now owns 215,538 shares of the company's stock valued at $1,554,000 after purchasing an additional 88,209 shares during the last quarter. Marshall Wace LLP purchased a new stake in Altimmune in the fourth quarter worth approximately $472,000. Bank of America Corp DE grew its position in Altimmune by 21.7% during the fourth quarter. Bank of America Corp DE now owns 181,889 shares of the company's stock valued at $1,311,000 after acquiring an additional 32,382 shares during the last quarter. Bellevue Group AG raised its stake in shares of Altimmune by 9.5% during the fourth quarter. Bellevue Group AG now owns 945,446 shares of the company's stock worth $6,817,000 after acquiring an additional 81,786 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Altimmune by 5.7% in the 4th quarter. Northern Trust Corp now owns 665,916 shares of the company's stock worth $4,801,000 after acquiring an additional 35,918 shares during the last quarter. 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.

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