Analysts Set Altimmune, Inc. (NASDAQ:ALT) Price Target at $18.80

Altimmune, Inc. (NASDAQ:ALT) has been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.80.

A number of equities research analysts have weighed in on ALT shares. Piper Sandler restated an “overweight” rating and issued a $25.00 price objective on shares of Altimmune in a report on Friday, June 21st. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research note on Thursday, August 22nd. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target on shares of Altimmune in a research report on Monday, August 12th. Finally, Evercore ISI raised shares of Altimmune to a “strong-buy” rating in a research report on Friday, August 9th.

Altimmune Stock Performance

Altimmune stock opened at $6.15 on Friday. Altimmune has a fifty-two week low of $2.09 and a fifty-two week high of $14.84. The stock has a market cap of $436.05 million, a price-to-earnings ratio of -3.87 and a beta of 0.08. The stock’s 50 day simple moving average is $6.67 and its two-hundred day simple moving average is $7.20.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Altimmune had a negative return on equity of 53.09% and a negative net margin of 24,778.97%. The firm had revenue of $0.01 million during the quarter. During the same quarter last year, the firm posted ($0.32) earnings per share. On average, analysts predict that Altimmune will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other Altimmune news, Director David Drutz sold 16,011 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $6.90, for a total transaction of $110,475.90. Following the transaction, the director now owns 41,958 shares in the company, valued at approximately $289,510.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Altimmune

Several hedge funds and other institutional investors have recently modified their holdings of the company. North Star Investment Management Corp. bought a new position in shares of Altimmune in the 1st quarter worth approximately $31,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of Altimmune during the 1st quarter worth $44,000. TFO Wealth Partners LLC bought a new stake in shares of Altimmune during the 1st quarter valued at $51,000. Horizon Wealth Management LLC purchased a new stake in shares of Altimmune in the 2nd quarter worth $66,000. Finally, PFG Investments LLC bought a new position in Altimmune in the 2nd quarter worth $67,000. 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.