Alterity Therapeutics Limited - Sponsored ADR (NASDAQ:ATHE) Stock Has Average Price Target of $10.00

Key Points

• Analysts have a “Moderate Buy” consensus on Alterity Therapeutics, with five buys, one hold and one sell among seven analysts. The average 12-month price target is $10.00, versus a recent share price of $3.66.
• Alterity reported a quarterly loss of $0.28 per share on $0.31 million in revenue, while analysts expect a full-year loss of $0.12 per share. The stock has traded between $2.66 and $5.89 over the past 52 weeks.
• Greenleaf Trust nearly doubled its position during the second quarter, although institutional investors collectively own only 2.14% of the company. Alterity is developing ATH-434, an oral drug candidate targeting alpha-synuclein aggregation in neurodegenerative diseases.

Alterity Therapeutics Limited - Sponsored ADR (NASDAQ:ATHE - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.00.

A number of brokerages have recently weighed in on ATHE. LADENBURG THALM/SH SH assumed coverage on shares of Alterity Therapeutics in a research note on Tuesday, June 16th. They set a "buy" rating and a $10.00 price objective for the company. Lake Street Capital started coverage on Alterity Therapeutics in a research note on Tuesday, September 15th. They issued a "buy" rating and a $10.00 target price on the stock. Craig Hallum set a $2.00 target price on Alterity Therapeutics in a report on Tuesday, August 11th. Weiss Ratings reissued a "sell (e+)" rating on shares of Alterity Therapeutics in a research report on Friday, July 17th. Finally, JonesTrading started coverage on Alterity Therapeutics in a report on Tuesday, June 30th. They issued a "buy" rating and a $16.00 price target for the company.

Alterity Therapeutics Stock Up 4.6%

NASDAQ:ATHE opened at $3.66 on Wednesday. Alterity Therapeutics has a 52-week low of $2.66 and a 52-week high of $5.89. The stock has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $4.35.

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

Institutional Inflows and Outflows

A hedge fund recently raised its position 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 the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the company's stock after purchasing an additional 30,000 shares during the period. Greenleaf Trust owned about 0.70% of Alterity Therapeutics worth $333,000 at the end of the most recent reporting period. Institutional investors own 2.14% of the company's stock.

About Alterity Therapeutics

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.

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