Altimmune (NASDAQ:ALT) Given “Buy” Rating at B. Riley

B. Riley reaffirmed their buy rating on shares of Altimmune (NASDAQ:ALT) in a research report released on Tuesday, Benzinga reports. They currently have a $20.00 price target on the stock.

Several other brokerages also recently weighed in on ALT. Guggenheim downgraded Altimmune from a buy rating to a neutral rating in a research report on Monday, April 29th. HC Wainwright reiterated a buy rating and issued a $12.00 price objective on shares of Altimmune in a research report on Tuesday, May 14th. Piper Sandler reiterated an overweight rating and issued a $25.00 price objective on shares of Altimmune in a research report on Friday, June 21st. Finally, JMP Securities lowered their price objective on Altimmune from $25.00 to $24.00 and set a market outperform rating for the company in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $18.80.

Altimmune Price Performance

Shares of ALT opened at $6.65 on Tuesday. The firm has a market cap of $471.49 million, a P/E ratio of -4.18 and a beta of 0.11. The stock has a 50 day simple moving average of $7.08 and a two-hundred day simple moving average of $8.78. Altimmune has a 1 year low of $2.09 and a 1 year high of $14.84.

Altimmune (NASDAQ:ALT) last issued its earnings results on Thursday, May 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.02. The business had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 46.96% and a negative net margin of 22,645.37%. During the same period in the prior year, the company earned ($0.40) EPS. On average, equities analysts anticipate that Altimmune will post -1.34 earnings per share for the current year.

Hedge Funds Weigh In On Altimmune

A number of institutional investors have recently added to or reduced their stakes in ALT. WealthPlan Investment Management LLC bought a new position in Altimmune in the third quarter worth $31,000. North Star Investment Management Corp. bought a new position in Altimmune in the first quarter worth $31,000. FNY Investment Advisers LLC bought a new position in Altimmune in the fourth quarter worth $35,000. CANADA LIFE ASSURANCE Co bought a new position in Altimmune in the first quarter worth $44,000. Finally, Russell Investments Group Ltd. raised its holdings in Altimmune by 1,150.9% in the fourth quarter. Russell Investments Group Ltd. now owns 4,303 shares of the company’s stock worth $48,000 after purchasing an additional 3,959 shares in the last quarter. Institutional investors own 78.05% of the company’s stock.

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.