Mizuho Cuts Athira Pharma (NASDAQ:LONA) Price Target to $15.00

Key Points

• Mizuho lowered Athira Pharma’s price target to $15 from $16 while maintaining an “outperform” rating, implying approximately 84% upside from the stock’s $8.15 price.
• Analyst sentiment remains mixed but leans positive: Athira has an overall “Moderate Buy” rating and an average price target of $17.33, with ratings ranging from buy to sell.
• The company reported a quarterly loss of $0.80 per share, missing the $0.60 consensus estimate. Institutional investors own 57.12% of the stock, while analysts expect a full-year loss of $3.12 per share.

Athira Pharma (NASDAQ:LONA - Get Free Report) had its target price cut by investment analysts at Mizuho from $16.00 to $15.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price target would suggest a potential upside of 84.05% from the company's current price.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded Athira Pharma from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Citizens Jmp cut their price objective on shares of Athira Pharma from $18.00 to $17.00 and set a "market outperform" rating on the stock in a report on Monday. Piper Sandler began coverage on shares of Athira Pharma in a research note on Wednesday, May 27th. They issued an "overweight" rating and a $20.00 target price for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Athira Pharma in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.33.

Athira Pharma Stock Down 0.2%

LONA traded down $0.02 during trading on Wednesday, hitting $8.15. The company's stock had a trading volume of 9,052 shares, compared to its average volume of 53,470. The firm has a market capitalization of $76.53 million, a P/E ratio of -1.94 and a beta of 2.05. Athira Pharma has a twelve month low of $3.52 and a twelve month high of $14.21. The stock's fifty day moving average price is $8.24 and its 200-day moving average price is $8.29.

Athira Pharma (NASDAQ:LONA - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.20). Equities research analysts expect that Athira Pharma will post -3.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Seven Fleet Capital Management LP bought a new stake in shares of Athira Pharma during the 4th quarter worth $969,000. Perceptive Advisors LLC grew its position 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 buying an additional 1,319,026 shares during the period. Millennium Management LLC bought a new position in Athira Pharma during the fourth quarter valued at about $2,456,000. Commodore Capital LP purchased a new stake in Athira Pharma during the fourth quarter worth about $3,515,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Athira Pharma during the fourth quarter worth about $2,891,000. Institutional investors own 57.12% of the company's stock.

Athira Pharma Company Profile

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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