HC Wainwright Reaffirms Buy Rating for Altimmune (NASDAQ:ALT)

Altimmune (NASDAQ:ALT)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 106.54% from the company’s current price.

A number of other analysts have also recently commented on ALT. William Blair reiterated a “market perform” rating on shares of Altimmune in a research report on Friday, March 14th. Stifel Nicolaus assumed coverage on Altimmune in a research report on Wednesday, January 8th. They issued a “buy” rating and a $18.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.83.

Altimmune Stock Performance

ALT opened at $5.81 on Tuesday. The business’s 50-day simple moving average is $6.39 and its 200-day simple moving average is $7.09. Altimmune has a one year low of $5.14 and a one year high of $11.16. The stock has a market capitalization of $447.45 million, a P/E ratio of -3.75 and a beta of 0.87.

Altimmune (NASDAQ:ALT) last posted its earnings results on Thursday, February 27th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.00 million. On average, equities research analysts forecast that Altimmune will post -1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Gregory L. Weaver purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $5.20 per share, with a total value of $52,000.00. Following the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $52,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altimmune

Institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. lifted its stake in Altimmune by 356.8% in the 4th quarter. Sunbelt Securities Inc. now owns 10,844 shares of the company’s stock valued at $79,000 after buying an additional 8,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Altimmune by 16.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,392 shares of the company’s stock valued at $666,000 after buying an additional 13,126 shares in the last quarter. Two Sigma Investments LP lifted its stake in Altimmune by 33.2% in the 4th quarter. Two Sigma Investments LP now owns 605,303 shares of the company’s stock valued at $4,364,000 after buying an additional 151,001 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Altimmune by 1.3% in the 4th 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. Finally, ProShare Advisors LLC lifted its stake in Altimmune by 74.1% in the 4th quarter. ProShare Advisors LLC now owns 23,371 shares of the company’s stock valued at $169,000 after buying an additional 9,950 shares in the last quarter. Hedge funds and other 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.