Altimmune, Inc. (NASDAQ:ALT) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Altimmune a “Moderate Buy” consensus: Eight of ten analysts rate the stock a buy, with an average 12-month price target of $14.33; one analyst rates it a hold and one a sell.
• Altimmune shares opened at $3.04, down 4.7%, while the company reported a quarterly loss of $0.12 per share—better than the consensus estimate of a $0.14 loss.
• Institutional investors own 78.05% of the stock, with several major funds increasing their positions. Altimmune is developing pemvidutide, a drug candidate targeting obesity and liver disease.

Altimmune, Inc. (NASDAQ:ALT - Get Free Report) has received an average rating of "Moderate Buy" from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.33.

A number of brokerages recently commented on ALT. Citigroup reiterated a "market outperform" rating on shares of Altimmune in a research report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Altimmune from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Altimmune in a research note on Monday. Leerink Partners initiated coverage on Altimmune in a report on Monday, June 22nd. They issued an "outperform" rating and a $10.00 price objective on the stock. Finally, HC Wainwright reissued a "buy" rating on shares of Altimmune in a research note on Tuesday, July 28th.

Altimmune Stock Down 4.7%

Shares of ALT opened at $3.04 on Friday. Altimmune has a 1 year low of $2.56 and a 1 year high of $6.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 26.78 and a quick ratio of 26.78. The stock has a 50 day simple moving average of $3.09 and a two-hundred day simple moving average of $3.08. The firm has a market cap of $591.34 million, a P/E ratio of -3.90 and a beta of 0.18.

Altimmune (NASDAQ:ALT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. Altimmune had a negative net margin of 214,860.98% and a negative return on equity of 31.41%. On average, analysts forecast that Altimmune will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Altimmune

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Altimmune by 268.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,045,926 shares of the company's stock worth $3,221,000 after purchasing an additional 762,223 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Altimmune in the second quarter worth $2,097,000. Bank of America Corp DE raised its holdings in Altimmune by 48.6% during the 1st quarter. Bank of America Corp DE now owns 570,203 shares of the company's stock valued at $1,756,000 after buying an additional 186,420 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Altimmune by 156.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 518,198 shares of the company's stock valued at $1,575,000 after buying an additional 316,209 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Altimmune by 69.4% during the 2nd quarter. Wellington Management Group LLP now owns 420,300 shares of the company's stock valued at $1,278,000 after buying an additional 172,142 shares during the period. Institutional investors own 78.05% of the company's stock.

Altimmune Company Profile

Altimmune, Inc is a clinical-stage biotechnology company focused on developing treatments for obesity and liver diseases. The company's lead product candidate is pemvidutide, a dual GLP-1/glucagon receptor agonist being studied for chronic weight management and metabolic dysfunction-associated steatohepatitis (MASH), a form of liver disease associated with metabolic disorders.

Altimmune's research programs are designed to address diseases with significant unmet medical needs, including obesity-related complications and conditions involving liver inflammation and fibrosis.

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