Alterity Therapeutics (NASDAQ:ATHE) Raised to “Strong-Buy” at Lake Street Capital

Alterity Therapeutics (NASDAQ:ATHE) was upgraded by research analysts at Lake Street Capital to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

A number of other brokerages also recently issued reports on ATHE. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Friday, July 17th. Zacks Research upgraded shares of Alterity Therapeutics to a “hold” rating in a research note on Wednesday, June 17th. LADENBURG THALM/SH SH assumed coverage on shares of Alterity Therapeutics in a report on Tuesday, June 16th. They set a “buy” rating and a $10.00 price target on the stock. UBS Group set a $12.00 price target on shares of Alterity Therapeutics in a research report on Tuesday, August 11th. Finally, JonesTrading started coverage on shares of Alterity Therapeutics in a research report on Tuesday, June 30th. They issued a “buy” rating and a $16.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.00.

Alterity Therapeutics Price Performance

NASDAQ:ATHE opened at $3.73 on Tuesday. The stock has a 50-day simple moving average of $4.60 and a two-hundred day simple moving average of $4.33. Alterity Therapeutics has a 52-week low of $2.66 and a 52-week high of $5.89.

Alterity Therapeutics (NASDAQ:ATHE) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) EPS for the quarter. The business had revenue of $0.31 million during the quarter. As a group, equities analysts predict that Alterity Therapeutics will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Alterity Therapeutics

An institutional investor recently raised its stake in Alterity Therapeutics stock. Greenleaf Trust increased its holdings in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Greenleaf Trust owned approximately 0.70% of Alterity Therapeutics worth $333,000 at the end of the most recent reporting period. 2.14% of the stock is currently owned by institutional investors.

About Alterity Therapeutics

Alterity Therapeutics Limited (NASDAQ: ATHE) is an Australia-based clinical-stage biotechnology company developing treatments for neurodegenerative diseases. Its research focuses on abnormal protein misfolding and aggregation, biological processes associated with disorders such as multiple system atrophy and Parkinson’s disease.

The company’s lead drug candidate, ATH-434, is an orally administered small molecule designed to cross the blood-brain barrier and inhibit the aggregation of alpha-synuclein, a protein implicated in several neurodegenerative conditions.