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

Key Points

• Analyst sentiment is moderately positive: Six brokerages give Athira Pharma a consensus “Moderate Buy” rating, with four buys, one hold and one sell. The average 12-month price target is $17.33, above the stock’s $7.70 opening price.
• The company reported weaker-than-expected quarterly results: Athira posted an adjusted loss of $0.80 per share, missing the $0.60-per-share consensus estimate, while analysts expect a full-year loss of $2.67 per share.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 57.12% of the stock, with several firms initiating or expanding positions during the fourth quarter.

Shares of Athira Pharma, Inc. (NASDAQ:LONA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $17.3333.

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Athira Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Citizens Jmp dropped their price objective on Athira Pharma from $18.00 to $17.00 and set a "market outperform" rating for the company in a research note on Monday, August 17th. Piper Sandler began coverage on Athira Pharma in a research report on Wednesday, May 27th. They set an "overweight" rating and a $20.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Athira Pharma in a research report on Friday, August 7th. Finally, Mizuho decreased their target price on Athira Pharma from $16.00 to $15.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 19th.

Athira Pharma Trading Up 0.4%

Athira Pharma stock opened at $7.70 on Friday. The firm has a 50 day moving average of $8.07 and a 200 day moving average of $8.57. The firm has a market capitalization of $72.30 million, a price-to-earnings ratio of -1.83 and a beta of 2.05. Athira Pharma has a 12-month low of $3.52 and a 12-month high of $14.21.

Athira Pharma (NASDAQ:LONA - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.20). On average, analysts predict that Athira Pharma will post -2.67 EPS for the current year.

Institutional Investors Weigh In On Athira Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP purchased a new position in shares of Athira Pharma in the fourth quarter worth $969,000. Perceptive Advisors LLC grew its stake in 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 acquiring an additional 1,319,026 shares in the last quarter. Millennium Management LLC bought a new stake in Athira Pharma in the 4th quarter valued at $2,456,000. Commodore Capital LP purchased a new stake in Athira Pharma in the 4th quarter worth $3,515,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Athira Pharma in the 4th quarter worth $2,891,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

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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