Altimmune (NASDAQ:ALT) Price Target Lowered to $24.00 at JMP Securities

Altimmune (NASDAQ:ALT - Get Free Report) had its target price lowered by research analysts at JMP Securities from $25.00 to $24.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' price objective would suggest a potential upside of 232.41% from the stock's current price.

ALT has been the subject of several other research reports. HC Wainwright cut their price target on Altimmune from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, April 1st. The Goldman Sachs Group began coverage on shares of Altimmune in a report on Wednesday, January 24th. They issued a "neutral" rating and a $13.00 price target on the stock. Guggenheim cut shares of Altimmune from a "buy" rating to a "neutral" rating in a research note on Monday, April 29th. Finally, B. Riley restated a "buy" rating and set a $20.00 price objective on shares of Altimmune in a research report on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Altimmune has an average rating of "Moderate Buy" and a consensus target price of $17.25.

Altimmune Stock Performance

ALT traded down $0.50 during trading on Friday, reaching $7.22. The company's stock had a trading volume of 3,042,224 shares, compared to its average volume of 5,087,175. The company's fifty day moving average price is $8.69 and its 200-day moving average price is $7.80. Altimmune has a 52-week low of $2.09 and a 52-week high of $14.84. The company has a market capitalization of $511.86 million, a price-to-earnings ratio of -4.38 and a beta of 0.22.

Altimmune (NASDAQ:ALT - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.02. Altimmune had a negative return on equity of 44.77% and a negative net margin of 20,780.75%. The business had revenue of $0.01 million for the quarter. During the same period last year, the firm earned ($0.40) EPS. Equities analysts predict that Altimmune will post -1.52 earnings per share for the current year.

Institutional Trading of Altimmune

Hedge funds have recently added to or reduced their stakes in the business. Timelo Investment Management Inc. grew its holdings in shares of Altimmune by 2,597.0% during the 4th quarter. Timelo Investment Management Inc. now owns 809,095 shares of the company's stock worth $9,102,000 after purchasing an additional 779,095 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in Altimmune during the fourth quarter worth approximately $4,493,000. GSA Capital Partners LLP increased its position in shares of Altimmune by 153.1% in the third quarter. GSA Capital Partners LLP now owns 445,868 shares of the company's stock worth $1,159,000 after acquiring an additional 269,676 shares in the last quarter. Gerber LLC purchased a new position in shares of Altimmune in the 4th quarter valued at $2,878,000. Finally, Sectoral Asset Management Inc. purchased a new position in shares of Altimmune in the 4th quarter valued at $1,922,000. 78.05% of the stock is owned by institutional investors and hedge funds.

About Altimmune

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.