HC Wainwright Reiterates Buy Rating for Astria Therapeutics (NASDAQ:ATXS)

Key Points

• HC Wainwright has reiterated a "buy" rating for Astria Therapeutics (NASDAQ:ATXS) with a target price of $16.00, indicating a potential upside of 140.60% from its previous close.
• Astria Therapeutics' stock is currently trading at $6.65 with a one-year range between $3.56 and $12.92, and the company has a market capitalization of $375.29 million.
• Several hedge funds have significantly increased their holdings in Astria Therapeutics, with institutional investors owning 98.98% of the company's stock.

Astria Therapeutics (NASDAQ:ATXS - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $16.00 target price on the biotechnology company's stock. HC Wainwright's target price suggests a potential upside of 140.60% from the stock's previous close.

A number of other research analysts have also commented on the stock. Citigroup restated an "outperform" rating on shares of Astria Therapeutics in a research report on Wednesday. Cantor Fitzgerald restated an "overweight" rating and set a $47.00 price target on shares of Astria Therapeutics in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Astria Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $29.00.

Astria Therapeutics Trading Down 0.4%

Astria Therapeutics stock opened at $6.65 on Wednesday. Astria Therapeutics has a 1-year low of $3.56 and a 1-year high of $12.92. The firm has a market capitalization of $375.29 million, a price-to-earnings ratio of -3.56 and a beta of 0.48. The firm has a 50 day simple moving average of $6.15 and a 200 day simple moving average of $5.76.

Astria Therapeutics (NASDAQ:ATXS - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.57) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.04. On average, equities research analysts forecast that Astria Therapeutics will post -1.65 EPS for the current year.

Hedge Funds Weigh In On Astria Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ATXS. Farther Finance Advisors LLC grew its holdings in Astria Therapeutics by 185.8% in the second quarter. Farther Finance Advisors LLC now owns 5,471 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 3,557 shares during the period. GAMMA Investing LLC grew its holdings in Astria Therapeutics by 1,127.4% in the first quarter. GAMMA Investing LLC now owns 8,678 shares of the biotechnology company's stock worth $46,000 after purchasing an additional 7,971 shares during the period. Brooklyn Investment Group grew its holdings in Astria Therapeutics by 1,079.6% in the first quarter. Brooklyn Investment Group now owns 8,694 shares of the biotechnology company's stock worth $46,000 after purchasing an additional 7,957 shares during the period. Tower Research Capital LLC TRC grew its holdings in Astria Therapeutics by 109.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,299 shares of the biotechnology company's stock worth $47,000 after purchasing an additional 2,766 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Astria Therapeutics in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 98.98% of the company's stock.

Astria Therapeutics Company Profile

Astria Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for allergic and immunological diseases in the United States. Its lead product candidate is STAR-0215, a monoclonal antibody inhibitor of plasma kallikrein, which is in Phase 1b/2 clinical trials for the treatment of hereditary angioedema.

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