Altimmune (NASDAQ:ALT) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen has upgraded Altimmune (NASDAQ:ALT) from a "sell" rating to a "hold" rating, reflecting a more favorable outlook.
• Despite mixed ratings from various analysts, Altimmune currently has an average rating of "Moderate Buy" and a price target of $18.20.
• Recent trading shows Altimmune's stock down by 2.0%, with a current market capitalization of approximately $279.83 million.

Altimmune (NASDAQ:ALT - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

A number of other brokerages have also commented on ALT. The Goldman Sachs Group upgraded shares of Altimmune to a "strong sell" rating in a report on Thursday, July 10th. HC Wainwright reiterated a "buy" rating and issued a $12.00 price objective on shares of Altimmune in a report on Friday, June 27th. JMP Securities cut their price objective on shares of Altimmune from $25.00 to $15.00 and set a "market outperform" rating on the stock in a report on Thursday, July 10th. Finally, William Blair reiterated a "market perform" rating on shares of Altimmune in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.80.

Altimmune Price Performance

Shares of ALT stock traded up $0.23 during midday trading on Friday, reaching $3.85. 2,147,436 shares of the company traded hands, compared to its average volume of 3,776,915. The firm's 50 day simple moving average is $4.86 and its two-hundred day simple moving average is $5.34. Altimmune has a 1-year low of $2.90 and a 1-year high of $11.16. The firm has a market cap of $311.87 million, a PE ratio of -3.07 and a beta of -0.01.

Altimmune (NASDAQ:ALT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.05. The business had revenue of $0.01 million during the quarter, compared to analysts' expectations of $0.00 million. Altimmune had a negative net margin of 451,200.00% and a negative return on equity of 65.44%. As a group, research analysts anticipate that Altimmune will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altimmune

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its position in Altimmune by 1.1% in the 4th quarter. Barclays PLC now owns 157,528 shares of the company's stock valued at $1,135,000 after acquiring an additional 1,787 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Altimmune by 1.3% in the fourth quarter. Rafferty Asset Management LLC now owns 157,750 shares of the company's stock valued at $1,137,000 after buying an additional 1,964 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Altimmune by 2.0% in the fourth quarter. JPMorgan Chase & Co. now owns 102,940 shares of the company's stock worth $742,000 after purchasing an additional 2,028 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Altimmune by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 189,000 shares of the company's stock worth $945,000 after purchasing an additional 2,162 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Altimmune by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company's stock worth $247,000 after purchasing an additional 2,241 shares in the last quarter. 78.05% of the stock is owned by institutional investors.

Altimmune Company Profile

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.